Models comparison

Ccmt

Count Ccmt

0.001

                Formula: count_ccmt~ gdp + pop      
                top_25 (2000:2019); p.value: 0.001; AR: 1      
                      
                Date: Tue Mar 26 16:59:46 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                     coef   std.error   t-stat   p-value          
                ar1            8.9638e-01  1.7599e-02  50.9349 < 2.2e-16 ***      
                gdp           -3.7257e-13  1.7139e-13  -2.1738 0.0302873 *        
                pop            4.6120e-07  2.2210e-07   2.0765 0.0384648 *        
                idAUT          1.5478e+01  2.8518e+01   0.5427 0.5875971          
                idBEL         -2.0171e+00  2.8479e+01  -0.0708 0.9435697          
                idBRA         -9.5280e+01  4.7941e+01  -1.9875 0.0475337 *        
                idCAN          3.7452e+01  2.8921e+01   1.2950 0.1960537          
                idCHE          9.8575e+00  2.8525e+01   0.3456 0.7298413          
                idCHN         -3.6799e+02  2.8975e+02  -1.2700 0.2047887          
                idDEU          3.5184e+02  5.8586e+01   6.0056 4.190e-09 ***      
                idDNK          2.5891e+01  2.8612e+01   0.9049 0.3660414          
                idESP         -8.8646e+00  2.8820e+01  -0.3076 0.7585534          
                idFIN          3.0429e+00  2.8602e+01   0.1064 0.9153264          
                idFRA          1.0808e+02  3.3161e+01   3.2594 0.0012091 **       
                idGBR          6.1948e+01  3.1284e+01   1.9802 0.0483486 *        
                idIND         -5.0615e+02  2.6894e+02  -1.8820 0.0605385 .        
                idISR          2.0433e+00  2.8540e+01   0.0716 0.9429602          
                idITA          1.3042e+01  2.9686e+01   0.4393 0.6606484          
                idJPN          8.8858e+02  1.0670e+02   8.3278 1.231e-15 ***      
                idKOR          7.0000e+02  1.9186e+02   3.6486 0.0002975 ***      
                idNLD          2.0566e+01  2.8462e+01   0.7226 0.4703598          
                idNOR         -5.4749e+00  2.8708e+01  -0.1907 0.8488448          
                idRUS         -4.2472e+01  3.9798e+01  -1.0672 0.2865102          
                idSGP         -8.1895e+00  2.8698e+01  -0.2854 0.7755060          
                idSWE          1.6659e+01  2.8508e+01   0.5844 0.5593007          
                idTWN          6.6869e+01  2.9161e+01   2.2931 0.0223441 *        
                idUSA          4.5641e+02  9.3752e+01   4.8683 1.607e-06 ***      
                time2001      -2.5183e+01  2.6613e+01  -0.9463 0.3445547          
                time2002      -3.7595e+01  2.6592e+01  -1.4138 0.1581844          
                time2003      -1.3965e+01  2.6602e+01  -0.5249 0.5999017          
                time2004       1.4452e+01  2.6610e+01   0.5431 0.5873385          
                time2005       1.7916e+01  2.6613e+01   0.6732 0.5011917          
                time2006       3.1372e+01  2.6672e+01   1.1762 0.2401963          
                time2007       5.9570e+01  2.6809e+01   2.2221 0.0268220 *        
                time2008       5.5785e+01  2.6954e+01   2.0697 0.0391069 *        
                time2009       5.8501e+01  2.7516e+01   2.1261 0.0340915 *        
                time2010       8.5008e+01  2.7529e+01   3.0880 0.0021517 **       
                time2011       4.2534e+01  2.7858e+01   1.5268 0.1275715          
                time2012       1.9718e+01  2.8360e+01   0.6953 0.4872779          
                time2013      -2.6266e+01  2.8162e+01  -0.9327 0.3515361          
                time2014       2.2568e+00  2.8042e+01   0.0805 0.9358969          
                time2015      -3.7150e+01  2.7644e+01  -1.3439 0.1797347          
                time2016       3.4326e+01  2.7647e+01   1.2416 0.2150996          
                time2017       1.4070e+01  2.7724e+01   0.5075 0.6120664          
                time2018       2.8653e+01  2.7848e+01   1.0289 0.3041222          
                time2019      -3.2775e+01  2.8157e+01  -1.1640 0.2451019          
                iis130         4.1042e+02  1.0574e+02   3.8816 0.0001208 ***      
                iis132        -4.8910e+02  1.4465e+02  -3.3812 0.0007907 ***      
                iis133        -8.7347e+02  1.6908e+02  -5.1661 3.731e-07 ***      
                iis313         9.5878e+02  1.1258e+02   8.5162 3.123e-16 ***      
                iis314         2.1449e+03  1.0594e+02  20.2474 < 2.2e-16 ***      
                iis315         1.2658e+03  1.0086e+02  12.5494 < 2.2e-16 ***      
                iis323        -1.6075e+03  1.0803e+02 -14.8797 < 2.2e-16 ***      
                iis332         3.7003e+02  1.0662e+02   3.4706 0.0005740 ***      
                iis468         4.0581e+02  1.0183e+02   3.9852 7.975e-05 ***      
                iis470        -1.0540e+03  1.0202e+02 -10.3311 < 2.2e-16 ***      
                fesisJPN.2008 -6.5398e+02  9.4263e+01  -6.9378 1.551e-11 ***      
                fesisKOR.2009  4.5434e+02  9.1793e+01   4.9496 1.086e-06 ***      
                tisCHN.2015    3.1753e+02  3.3775e+01   9.4013 < 2.2e-16 ***      
                tisJPN.2008    8.0914e+01  1.0762e+01   7.5183 3.499e-13 ***      
                tisUSA.2005    1.8867e+02  2.5945e+01   7.2721 1.796e-12 ***      
                tisUSA.2008   -1.7236e+02  3.6171e+01  -4.7651 2.620e-06 ***      
                tisUSA.2014   -2.0494e+02  3.1928e+01  -6.4187 3.787e-10 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                   Chi-sq df  p-value          
                Ljung-Box AR(1)    1.9107  1   0.1669          
                Ljung-Box ARCH(1) 61.5387  1 4.33e-15 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                  
                SE of regression    87.38886      
                R-squared            0.99826      
                Log-lik.(n=475)  -2765.92051      
0.01

                Formula: count_ccmt~ gdp + pop      
                top_25 (2000:2019); p.value: 0.01; AR: 1      
                      
                Date: Tue Mar 26 16:59:46 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                     coef   std.error   t-stat   p-value          
                ar1            8.5178e-01  1.8437e-02  46.2000 < 2.2e-16 ***      
                gdp            5.9564e-13  2.0630e-13   2.8873 0.0040966 **       
                pop            3.7926e-06  6.3107e-07   6.0098 4.184e-09 ***      
                idAUT          6.3567e+01  2.3551e+01   2.6991 0.0072481 **       
                idBEL          3.3447e+01  2.2792e+01   1.4675 0.1430286          
                idBRA         -6.8295e+02  1.1305e+02  -6.0411 3.504e-09 ***      
                idCAN          1.0216e+01  2.2944e+01   0.4453 0.6563786          
                idCHE          5.8449e+01  2.3603e+01   2.4763 0.0136880 *        
                idCHN         -4.7054e+03  8.1642e+02  -5.7635 1.648e-08 ***      
                idDEU          7.7237e+01  5.2487e+01   1.4715 0.1419291          
                idDNK          8.3367e+01  2.4406e+01   3.4159 0.0007009 ***      
                idESP         -8.5973e+01  2.6298e+01  -3.2692 0.0011717 **       
                idFIN          5.7614e+01  2.4059e+01   2.3947 0.0170911 *        
                idFRA          1.9684e+00  3.2876e+01   0.0599 0.9522866          
                idGBR         -4.9215e+01  3.1861e+01  -1.5447 0.1232187          
                idIND         -4.0561e+03  6.7481e+02  -6.0107 4.162e-09 ***      
                idISR          4.8577e+01  2.3502e+01   2.0669 0.0393869 *        
                idITA         -1.0222e+02  3.1066e+01  -3.2902 0.0010898 **       
                idJPN          2.3848e+02  1.1874e+02   2.0084 0.0452728 *        
                idKOR         -4.5154e+02  2.3214e+02  -1.9452 0.0524564 .        
                idNLD          4.5001e+01  2.2344e+01   2.0140 0.0446802 *        
                idNOR          4.4727e+01  2.4013e+01   1.8626 0.0632549 .        
                idRUS         -5.2543e+02  8.3189e+01  -6.3161 7.146e-10 ***      
                idSGP          4.3813e+01  2.3976e+01   1.8273 0.0683937 .        
                idSWE          5.8456e+01  2.3335e+01   2.5051 0.0126377 *        
                idTWN          8.1209e+01  2.2869e+01   3.5511 0.0004294 ***      
                idUSA         -3.4730e+02  1.5921e+02  -2.1814 0.0297367 *        
                time2001      -7.0247e+01  2.3330e+01  -3.0111 0.0027685 **       
                time2002      -8.6283e+01  2.3398e+01  -3.6876 0.0002576 ***      
                time2003      -7.4772e+01  2.3584e+01  -3.1705 0.0016390 **       
                time2004      -4.1569e+01  2.3619e+01  -1.7599 0.0791821 .        
                time2005      -4.7067e+01  2.3669e+01  -1.9886 0.0474294 *        
                time2006      -4.3223e+01  2.3850e+01  -1.8123 0.0706910 .        
                time2007      -2.7008e+01  2.3992e+01  -1.1257 0.2609570          
                time2008      -2.4320e+01  2.4165e+01  -1.0064 0.3148360          
                time2009      -1.5003e+01  2.4332e+01  -0.6166 0.5378371          
                time2010       3.3578e+00  2.4355e+01   0.1379 0.8904108          
                time2011      -3.9549e+01  2.4462e+01  -1.6167 0.1067234          
                time2012      -3.8967e+01  2.4744e+01  -1.5748 0.1160825          
                time2013      -9.1990e+01  2.4780e+01  -3.7123 0.0002345 ***      
                time2014      -6.5982e+01  2.5001e+01  -2.6391 0.0086370 **       
                time2015      -8.0677e+01  2.4910e+01  -3.2387 0.0013008 **       
                time2016      -4.1677e+01  2.4715e+01  -1.6863 0.0925157 .        
                time2017      -3.0278e+01  2.4853e+01  -1.2183 0.2238417          
                time2018      -4.5795e+01  2.4924e+01  -1.8374 0.0668965 .        
                time2019      -1.0213e+02  2.5070e+01  -4.0738 5.578e-05 ***      
                iis130         3.9116e+02  8.1765e+01   4.7839 2.422e-06 ***      
                iis132        -3.3944e+02  1.1272e+02  -3.0115 0.0027646 **       
                iis133        -6.5033e+02  1.3328e+02  -4.8796 1.538e-06 ***      
                iis307         2.2622e+02  7.4788e+01   3.0248 0.0026486 **       
                iis313         9.0890e+02  8.8793e+01  10.2361 < 2.2e-16 ***      
                iis314         2.1137e+03  8.2633e+01  25.5792 < 2.2e-16 ***      
                iis315         1.3199e+03  7.8039e+01  16.9131 < 2.2e-16 ***      
                iis323        -1.6097e+03  8.3306e+01 -19.3224 < 2.2e-16 ***      
                iis332         2.2508e+02  8.5686e+01   2.6268 0.0089514 **       
                iis338        -5.2361e+02  7.3797e+01  -7.0954 5.906e-12 ***      
                iis340        -4.6338e+02  7.6689e+01  -6.0423 3.480e-09 ***      
                iis463         3.4302e+02  7.5673e+01   4.5329 7.696e-06 ***      
                iis468         3.4626e+02  8.0061e+01   4.3250 1.929e-05 ***      
                iis470        -6.3749e+02  9.0957e+01  -7.0087 1.028e-11 ***      
                iis473        -5.5351e+02  8.6675e+01  -6.3861 4.729e-10 ***      
                iis474        -6.4335e+02  9.3561e+01  -6.8763 2.373e-11 ***      
                iis475        -1.0418e+03  1.0398e+02 -10.0191 < 2.2e-16 ***      
                fesisDEU.2006  2.7963e+02  6.0801e+01   4.5991 5.703e-06 ***      
                fesisDEU.2012 -5.0220e+02  7.1209e+01  -7.0525 7.772e-12 ***      
                fesisJPN.2008 -5.2145e+02  7.6765e+01  -6.7928 3.998e-11 ***      
                fesisKOR.2009  5.0237e+02  7.2493e+01   6.9299 1.694e-11 ***      
                fesisUSA.2005  2.7017e+02  6.4845e+01   4.1664 3.794e-05 ***      
                fesisUSA.2014 -7.3629e+02  9.1498e+01  -8.0470 9.760e-15 ***      
                tisCHN.2015    2.4409e+02  2.8965e+01   8.4273 6.452e-16 ***      
                tisDEU.2004    2.8676e+01  8.8472e+00   3.2413 0.0012896 **       
                tisIND.2002   -6.4461e+01  1.0873e+01  -5.9285 6.610e-09 ***      
                tisJPN.2008    8.1329e+01  8.4362e+00   9.6405 < 2.2e-16 ***      
                tisKOR.2009   -4.6799e+01  1.2168e+01  -3.8460 0.0001397 ***      
                tisUSA.2005    7.2175e+01  1.3915e+01   5.1868 3.407e-07 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                    Chi-sq df  p-value          
                Ljung-Box AR(1)    0.32731  1   0.5672          
                Ljung-Box ARCH(1) 22.09865  1 2.59e-06 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                 
                SE of regression    67.2127      
                R-squared            0.9990      
                Log-lik.(n=475)  -2635.2303      

Log Count Ccmt

0.001

                Formula: log_count_ccmt~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.001; AR: 1      
                      
                Date: Tue Mar 26 17:01:24 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                   coef std.error  t-stat   p-value          
                ar1            0.718077  0.025835 27.7951 < 2.2e-16 ***      
                lgdp           0.409331  0.072617  5.6369 3.169e-08 ***      
                lpop          -0.743272  0.202717 -3.6666 0.0002771 ***      
                idAUT         -0.012302  0.179994 -0.0683 0.9455411          
                idBEL         -0.053449  0.135497 -0.3945 0.6934358          
                idBRA          0.917035  0.416635  2.2011 0.0282719 *        
                idCAN          0.535175  0.098661  5.4244 9.803e-08 ***      
                idCHE         -0.358951  0.191459 -1.8748 0.0615066 .        
                idCHN          2.316568  0.759185  3.0514 0.0024213 **       
                idDEU          1.506129  0.272321  5.5307 5.595e-08 ***      
                idDNK         -1.036718  0.287469 -3.6064 0.0003476 ***      
                idESP          0.450610  0.166015  2.7143 0.0069139 **       
                idFIN         -0.287530  0.257527 -1.1165 0.2648396          
                idFRA          1.160508  0.225129  5.1548 3.905e-07 ***      
                idGBR          1.110789  0.221969  5.0043 8.241e-07 ***      
                idIND          1.481797  0.733508  2.0202 0.0439976 *        
                idISR         -0.667285  0.206059 -3.2383 0.0012971 **       
                idITA          0.901597  0.205857  4.3797 1.500e-05 ***      
                idJPN         -0.073888  0.376270 -0.1964 0.8444146          
                idKOR         -1.398614  0.405804 -3.4465 0.0006247 ***      
                idNLD          0.286019  0.078554  3.6411 0.0003051 ***      
                idNOR         -1.626405  0.338017 -4.8116 2.086e-06 ***      
                idRUS         -0.410550  0.363420 -1.1297 0.2592491          
                idSGP         -1.098976  0.305093 -3.6021 0.0003532 ***      
                idSWE         -0.929008  0.210012 -4.4236 1.236e-05 ***      
                idTWN          0.588273  0.070643  8.3274 1.159e-15 ***      
                idUSA          1.966482  0.494441  3.9772 8.202e-05 ***      
                time2001       2.440510  3.063017  0.7968 0.4260336          
                time2002       2.408782  3.064072  0.7861 0.4322270          
                time2003       2.494303  3.064096  0.8140 0.4160789          
                time2004       2.519767  3.065023  0.8221 0.4114809          
                time2005       2.550127  3.065959  0.8318 0.4060165          
                time2006       2.568994  3.067191  0.8376 0.4027440          
                time2007       2.616569  3.068404  0.8527 0.3942828          
                time2008       2.627291  3.069889  0.8558 0.3925786          
                time2009       2.682106  3.070597  0.8735 0.3828969          
                time2010       2.705238  3.071877  0.8806 0.3790092          
                time2011       2.691415  3.072926  0.8758 0.3816100          
                time2012       2.634444  3.074110  0.8570 0.3919424          
                time2013       2.553528  3.075544  0.8303 0.4068552          
                time2014       2.591290  3.077282  0.8421 0.4002241          
                time2015       2.565838  3.078750  0.8334 0.4050882          
                time2016       2.633398  3.080324  0.8549 0.3930852          
                time2017       2.618924  3.081529  0.8499 0.3958737          
                time2018       2.625511  3.082708  0.8517 0.3948683          
                time2019       2.529728  3.083774  0.8203 0.4124872          
                iis63          0.732754  0.120632  6.0743 2.777e-09 ***      
                iis159         0.439950  0.121063  3.6341 0.0003133 ***      
                iis407         0.436211  0.121170  3.6000 0.0003559 ***      
                fesisSGP.2003  0.328237  0.091317  3.5945 0.0003633 ***      
                tisESP.2003    0.132250  0.033242  3.9784 8.160e-05 ***      
                tisESP.2006   -0.149033  0.037304 -3.9950 7.628e-05 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                   Chi-sq df   p-value          
                Ljung-Box AR(1)    5.3554  1   0.02066 *        
                Ljung-Box ARCH(1) 24.2439  1 8.487e-07 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                
                SE of regression   0.11502      
                R-squared          0.99405      
                Log-lik.(n=475)  379.28324      
0.01

                Formula: log_count_ccmt~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.01; AR: 1      
                      
                Date: Tue Mar 26 17:01:22 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                    coef  std.error  t-stat   p-value          
                ar1            0.6731989  0.0240900 27.9451 < 2.2e-16 ***      
                lgdp           0.3806455  0.0691480  5.5048 6.546e-08 ***      
                lpop          -0.5022617  0.1904746 -2.6369 0.0086864 **       
                idAUT          0.0037666  0.1622407  0.0232 0.9814890          
                idBEL         -0.1190657  0.1230942 -0.9673 0.3339806          
                idBRA          0.2175135  0.4077077  0.5335 0.5939757          
                idCAN          0.2980697  0.1074324  2.7745 0.0057829 **       
                idCHE         -0.3132007  0.1733703 -1.8065 0.0715704 .        
                idCHN          1.2472614  0.7256272  1.7189 0.0863959 .        
                idDEU          1.1504973  0.2626579  4.3802 1.509e-05 ***      
                idDNK         -1.0486038  0.2703462 -3.8787 0.0001224 ***      
                idESP          0.0615389  0.1673905  0.3676 0.7133348          
                idFIN         -0.1961573  0.2332222 -0.8411 0.4007988          
                idFRA          0.8028583  0.2211412  3.6305 0.0003188 ***      
                idGBR          0.7433334  0.2186433  3.3998 0.0007409 ***      
                idIND          0.4718153  0.7024980  0.6716 0.5022025          
                idISR         -0.6342859  0.1863287 -3.4041 0.0007295 ***      
                idITA          0.5173854  0.2056930  2.5153 0.0122754 *        
                idJPN         -0.3489860  0.3703779 -0.9422 0.3466258          
                idKOR         -1.4703847  0.3994439 -3.6811 0.0002634 ***      
                idNLD          0.1724134  0.0762145  2.2622 0.0242095 *        
                idNOR         -1.4687989  0.3118080 -4.7106 3.392e-06 ***      
                idRUS         -0.9610722  0.3585244 -2.6806 0.0076461 **       
                idSGP         -1.0364423  0.2758973 -3.7566 0.0001973 ***      
                idSWE         -0.8684145  0.1963548 -4.4227 1.252e-05 ***      
                idTWN          0.4248141  0.0760500  5.5860 4.252e-08 ***      
                idUSA          1.3728303  0.4713430  2.9126 0.0037813 **       
                time2001      -0.4252125  2.8646709 -0.1484 0.8820742          
                time2002      -0.4551537  2.8652083 -0.1589 0.8738614          
                time2003      -0.3815373  2.8666458 -0.1331 0.8941836          
                time2004      -0.3679132  2.8662229 -0.1284 0.8979260          
                time2005      -0.3410920  2.8655538 -0.1190 0.9053088          
                time2006      -0.2796275  2.8669982 -0.0975 0.9223509          
                time2007      -0.2515474  2.8685010 -0.0877 0.9301637          
                time2008      -0.2306643  2.8694611 -0.0804 0.9359697          
                time2009      -0.1489511  2.8700433 -0.0519 0.9586349          
                time2010      -0.1368247  2.8711767 -0.0477 0.9620149          
                time2011      -0.1465698  2.8720934 -0.0510 0.9593247          
                time2012      -0.2018514  2.8731577 -0.0703 0.9440258          
                time2013      -0.2844938  2.8745229 -0.0990 0.9212101          
                time2014      -0.2518303  2.8762461 -0.0876 0.9302732          
                time2015      -0.2741769  2.8779689 -0.0953 0.9241491          
                time2016      -0.2249747  2.8792750 -0.0781 0.9377583          
                time2017      -0.2384443  2.8803990 -0.0828 0.9340657          
                time2018      -0.2318291  2.8815111 -0.0805 0.9359156          
                time2019      -0.3274298  2.8825094 -0.1136 0.9096172          
                iis59         -0.3971607  0.1030435 -3.8543 0.0001348 ***      
                iis63          0.6698595  0.1026304  6.5269 1.996e-10 ***      
                iis66         -0.3806953  0.1025993 -3.7105 0.0002355 ***      
                iis248        -0.4339955  0.1044962 -4.1532 3.995e-05 ***      
                iis269        -0.3725554  0.1040524 -3.5805 0.0003843 ***      
                iis270         0.3516406  0.1037176  3.3904 0.0007660 ***      
                iis273         0.3610047  0.1028986  3.5084 0.0005011 ***      
                iis385         0.3768156  0.1028161  3.6649 0.0002800 ***      
                iis395        -0.3823963  0.1026659 -3.7247 0.0002231 ***      
                iis402         0.2914043  0.1071240  2.7203 0.0068021 **       
                iis407         0.4468430  0.1030393  4.3366 1.825e-05 ***      
                fesisAUS.2005 -0.2208465  0.0595617 -3.7079 0.0002379 ***      
                fesisCHN.2015  0.2480379  0.0627515  3.9527 9.107e-05 ***      
                fesisDNK.2005  0.4188202  0.1115065  3.7560 0.0001978 ***      
                fesisDNK.2006 -0.4771838  0.1411020 -3.3818 0.0007895 ***      
                fesisDNK.2007  0.8728536  0.1723947  5.0631 6.256e-07 ***      
                fesisSGP.2003  0.3302574  0.0791592  4.1721 3.691e-05 ***      
                tisDNK.2007   -0.2072112  0.0557598 -3.7161 0.0002305 ***      
                tisDNK.2010    0.2137858  0.0609049  3.5102 0.0004978 ***      
                tisESP.2003    0.1395220  0.0283903  4.9144 1.292e-06 ***      
                tisESP.2006   -0.1559717  0.0318191 -4.9018 1.373e-06 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                   Chi-sq df   p-value          
                Ljung-Box AR(1)    6.2035  1 0.0127501 *        
                Ljung-Box ARCH(1) 12.4281  1 0.0004229 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                
                SE of regression   0.09743      
                R-squared          0.99588      
                Log-lik.(n=475)  465.60979      

Ihs Count Ccmt

0.001

                Formula: ihs_count_ccmt~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.001; AR: 1      
                      
                Date: Tue Mar 26 17:04:35 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                    coef  std.error  t-stat   p-value          
                ar1            0.6996319  0.0263091 26.5928 < 2.2e-16 ***      
                lgdp           0.4527092  0.0728223  6.2166 1.224e-09 ***      
                lpop          -0.4805337  0.2286098 -2.1020 0.0361484 *        
                idAUT          0.1234986  0.2016466  0.6125 0.5405704          
                idBEL         -0.0035627  0.1518880 -0.0235 0.9812975          
                idBRA          0.0896200  0.4959521  0.1807 0.8566877          
                idCAN          0.2443833  0.1294258  1.8882 0.0596848 .        
                idCHE         -0.2338045  0.2148072 -1.0884 0.2770241          
                idCHN          0.9340819  0.8953961  1.0432 0.2974519          
                idDEU          0.9983826  0.3194903  3.1249 0.0019016 **       
                idDNK         -0.8685171  0.3152016 -2.7554 0.0061159 **       
                idESP          0.1044660  0.1971030  0.5300 0.5963866          
                idFIN         -0.0226207  0.2915591 -0.0776 0.9381947          
                idFRA          0.7070224  0.2675588  2.6425 0.0085366 **       
                idGBR          0.6673202  0.2631471  2.5359 0.0115758 *        
                idIND          0.0657069  0.8724069  0.0753 0.9399984          
                idISR         -0.5622281  0.2292073 -2.4529 0.0145747 *        
                idITA          0.4633298  0.2473662  1.8731 0.0617539 .        
                idJPN         -0.9079340  0.4448935 -2.0408 0.0418950 *        
                idKOR         -2.0486820  0.4337843 -4.7228 3.174e-06 ***      
                idNLD          0.2184094  0.0889210  2.4562 0.0144436 *        
                idNOR         -1.4668169  0.3667525 -3.9995 7.498e-05 ***      
                idRUS         -1.2744448  0.4422012 -2.8820 0.0041532 **       
                idSGP         -0.6444300  0.3336477 -1.9315 0.0540961 .        
                idSWE         -0.9292742  0.2251243 -4.1278 4.417e-05 ***      
                idTWN          0.4271181  0.0859963  4.9667 9.917e-07 ***      
                idUSA          1.0469591  0.5846554  1.7907 0.0740552 .        
                time2001      -2.7346391  3.5811375 -0.7636 0.4455196          
                time2002      -2.7688284  3.5823931 -0.7729 0.4400158          
                time2003      -2.6872198  3.5837133 -0.7498 0.4537685          
                time2004      -2.6437321  3.5845654 -0.7375 0.4612097          
                time2005      -2.6041360  3.5849410 -0.7264 0.4679913          
                time2006      -2.5863840  3.5864327 -0.7212 0.4712127          
                time2007      -2.5391518  3.5878802 -0.7077 0.4795216          
                time2008      -2.5294875  3.5886187 -0.7049 0.4812847          
                time2009      -2.4913551  3.5896683 -0.6940 0.4880431          
                time2010      -2.4548492  3.5906173 -0.6837 0.4945506          
                time2011      -2.4695748  3.5918609 -0.6875 0.4921164          
                time2012      -2.5282032  3.5932667 -0.7036 0.4820742          
                time2013      -2.6121785  3.5949379 -0.7266 0.4678584          
                time2014      -2.5787884  3.5969359 -0.7169 0.4738085          
                time2015      -2.6075226  3.5986398 -0.7246 0.4691088          
                time2016      -2.5431106  3.6004589 -0.7063 0.4803739          
                time2017      -2.5598500  3.6018624 -0.7107 0.4776626          
                time2018      -2.5553894  3.6032325 -0.7092 0.4785969          
                time2019      -2.6535508  3.6044757 -0.7362 0.4620298          
                iis63          0.7400591  0.1203208  6.1507 1.795e-09 ***      
                iis159         0.4245574  0.1207714  3.5154 0.0004868 ***      
                iis402         0.4798328  0.1272528  3.7707 0.0001861 ***      
                fesisAUS.2005 -0.2374838  0.0700781 -3.3888 0.0007680 ***      
                fesisSGP.2008  0.4434468  0.0983488  4.5089 8.459e-06 ***      
                fesisSGP.2010 -0.3729991  0.0919061 -4.0585 5.889e-05 ***      
                tisESP.2003    0.1225573  0.0332358  3.6875 0.0002561 ***      
                tisESP.2006   -0.1378808  0.0372873 -3.6978 0.0002463 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                   Chi-sq df   p-value          
                Ljung-Box AR(1)    4.8298  1   0.02797 *        
                Ljung-Box ARCH(1) 29.9509  1 4.431e-08 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                
                SE of regression   0.11470      
                R-squared          0.99416      
                Log-lik.(n=475)  381.60486      
0.01

                Formula: ihs_count_ccmt~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.01; AR: 1      
                      
                Date: Tue Mar 26 17:04:34 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                    coef  std.error  t-stat   p-value          
                ar1            0.6707282  0.0240351 27.9061 < 2.2e-16 ***      
                lgdp           0.3849629  0.0694972  5.5393 5.454e-08 ***      
                lpop          -0.5055142  0.1915484 -2.6391 0.0086312 **       
                idAUT          0.0062193  0.1635179  0.0380 0.9696789          
                idBEL         -0.1188920  0.1240238 -0.9586 0.3383168          
                idBRA          0.2133209  0.4105934  0.5195 0.6036638          
                idCAN          0.3002757  0.1080348  2.7794 0.0056972 **       
                idCHE         -0.3141255  0.1745433 -1.7997 0.0726468 .        
                idCHN          1.2493944  0.7305091  1.7103 0.0879694 .        
                idDEU          1.1585749  0.2638387  4.3912 1.438e-05 ***      
                idDNK         -1.0576614  0.2717119 -3.8926 0.0001158 ***      
                idESP          0.0585305  0.1684698  0.3474 0.7284517          
                idFIN         -0.1949831  0.2349653 -0.8298 0.4071158          
                idFRA          0.8085139  0.2222581  3.6377 0.0003103 ***      
                idGBR          0.7487732  0.2197617  3.4072 0.0007215 ***      
                idIND          0.4669308  0.7076655  0.6598 0.5097426          
                idISR         -0.6388820  0.1873843 -3.4095 0.0007157 ***      
                idITA          0.5208035  0.2068644  2.5176 0.0121975 *        
                idJPN         -0.3598139  0.3735356 -0.9633 0.3359850          
                idKOR         -1.4914680  0.4023134 -3.7072 0.0002385 ***      
                idNLD          0.1751628  0.0767691  2.2817 0.0230224 *        
                idNOR         -1.4831904  0.3132013 -4.7356 3.019e-06 ***      
                idRUS         -0.9772850  0.3616822 -2.7021 0.0071787 **       
                idSGP         -1.0678408  0.2777170 -3.8451 0.0001398 ***      
                idSWE         -0.8761254  0.1972437 -4.4418 1.150e-05 ***      
                idTWN          0.4288138  0.0764005  5.6127 3.685e-08 ***      
                idUSA          1.3793011  0.4741165  2.9092 0.0038217 **       
                time2001      -0.2517840  2.8849459 -0.0873 0.9304957          
                time2002      -0.2821252  2.8854802 -0.0978 0.9221597          
                time2003      -0.2074941  2.8869346 -0.0719 0.9427378          
                time2004      -0.1940278  2.8865054 -0.0672 0.9464403          
                time2005      -0.1668966  2.8858259 -0.0578 0.9539098          
                time2006      -0.1050288  2.8872793 -0.0364 0.9710000          
                time2007      -0.0764580  2.8887922 -0.0265 0.9788977          
                time2008      -0.0552439  2.8897589 -0.0191 0.9847570          
                time2009       0.0271650  2.8903481  0.0094 0.9925058          
                time2010       0.0394137  2.8914901  0.0136 0.9891311          
                time2011       0.0299123  2.8924147  0.0103 0.9917538          
                time2012      -0.0255712  2.8934877 -0.0088 0.9929531          
                time2013      -0.1085313  2.8948642 -0.0375 0.9701119          
                time2014      -0.0760179  2.8966010 -0.0262 0.9790757          
                time2015      -0.0985347  2.8983370 -0.0340 0.9728962          
                time2016      -0.0491805  2.8996535 -0.0170 0.9864762          
                time2017      -0.0627521  2.9007860 -0.0216 0.9827514          
                time2018      -0.0560393  2.9019071 -0.0193 0.9846023          
                time2019      -0.1521371  2.9029131 -0.0524 0.9582289          
                iis59         -0.4261592  0.1038091 -4.1052 4.881e-05 ***      
                iis63          0.6818732  0.1033424  6.5982 1.295e-10 ***      
                iis66         -0.3863694  0.1033174 -3.7396 0.0002106 ***      
                iis248        -0.4432755  0.1052229 -4.2127 3.108e-05 ***      
                iis269        -0.3791661  0.1047756 -3.6188 0.0003331 ***      
                iis270         0.3553192  0.1044348  3.4023 0.0007342 ***      
                iis273         0.3634532  0.1036122  3.5078 0.0005020 ***      
                iis385         0.3812172  0.1035298  3.6822 0.0002623 ***      
                iis395        -0.3856445  0.1033759 -3.7305 0.0002182 ***      
                iis402         0.3057819  0.1079754  2.8320 0.0048555 **       
                iis407         0.4536146  0.1037566  4.3719 1.565e-05 ***      
                fesisAUS.2005 -0.2230060  0.0599963 -3.7170 0.0002297 ***      
                fesisCHN.2015  0.2489032  0.0631637  3.9406 9.561e-05 ***      
                fesisDNK.2005  0.4223645  0.1122799  3.7617 0.0001935 ***      
                fesisDNK.2006 -0.4798828  0.1420800 -3.3776 0.0008016 ***      
                fesisDNK.2007  0.8761387  0.1735876  5.0472 6.765e-07 ***      
                fesisSGP.2003  0.3559116  0.0797362  4.4636 1.044e-05 ***      
                tisDNK.2007   -0.2074791  0.0561421 -3.6956 0.0002493 ***      
                tisDNK.2010    0.2140446  0.0613223  3.4905 0.0005347 ***      
                tisESP.2003    0.1415779  0.0285835  4.9531 1.071e-06 ***      
                tisESP.2006   -0.1581208  0.0320363 -4.9357 1.166e-06 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                   Chi-sq df   p-value          
                Ljung-Box AR(1)    6.0912  1 0.0135856 *        
                Ljung-Box ARCH(1) 12.5333  1 0.0003998 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                
                SE of regression   0.09810      
                R-squared          0.99586      
                Log-lik.(n=475)  462.32960      

Max Count Ccmt

0.001

                Formula: max_count_ccmt~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.001; AR: 1      
                      
                Date: Tue Mar 26 17:06:27 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                     coef   std.error   t-stat   p-value          
                ar1            0.88429229  0.01814331  48.7393 < 2.2e-16 ***      
                lgdp           0.01890726  0.00530712   3.5626 0.0004102 ***      
                lpop          -0.03929084  0.01835563  -2.1405 0.0328996 *        
                idAUT         -0.00662780  0.01487467  -0.4456 0.6561381          
                idBEL         -0.00163862  0.01107229  -0.1480 0.8824211          
                idBRA          0.06861052  0.03782836   1.8137 0.0704481 .        
                idCAN          0.01970459  0.00842372   2.3392 0.0198044 *        
                idCHE         -0.02175640  0.01680329  -1.2948 0.1961266          
                idCHN          0.12712278  0.06805804   1.8679 0.0624933 .        
                idDEU          0.08527371  0.02553005   3.3401 0.0009139 ***      
                idDNK         -0.05583245  0.02598933  -2.1483 0.0322750 *        
                idESP          0.03638380  0.01487830   2.4454 0.0148868 *        
                idFIN         -0.01742974  0.02191890  -0.7952 0.4269607          
                idFRA          0.05210339  0.01999861   2.6053 0.0095112 **       
                idGBR          0.04854408  0.01963646   2.4721 0.0138347 *        
                idIND          0.08643633  0.06452310   1.3396 0.1811097          
                idISR         -0.03285236  0.01836956  -1.7884 0.0744459 .        
                idITA          0.04111896  0.01834719   2.2412 0.0255490 *        
                idJPN          0.04752897  0.03314312   1.4341 0.1523176          
                idKOR         -0.06106141  0.02956695  -2.0652 0.0395314 *        
                idNLD          0.00786894  0.00542298   1.4510 0.1475322          
                idNOR         -0.07190213  0.02972799  -2.4187 0.0160111 *        
                idRUS         -0.00067871  0.02848199  -0.0238 0.9810002          
                idSGP         -0.03029642  0.02398136  -1.2633 0.2071860          
                idSWE         -0.04859646  0.01875328  -2.5914 0.0099001 **       
                idTWN          0.01960928  0.00475956   4.1200 4.584e-05 ***      
                idUSA          0.12306683  0.04553760   2.7025 0.0071665 **       
                time2001       0.13273632  0.25582684   0.5189 0.6041431          
                time2002       0.13122697  0.25594902   0.5127 0.6084314          
                time2003       0.13355919  0.25604256   0.5216 0.6022097          
                time2004       0.13609760  0.25615589   0.5313 0.5954926          
                time2005       0.13584377  0.25627866   0.5301 0.5963547          
                time2006       0.13656933  0.25640894   0.5326 0.5945823          
                time2007       0.13888860  0.25656358   0.5413 0.5885653          
                time2008       0.13919185  0.25673326   0.5422 0.5879985          
                time2009       0.14156323  0.25695118   0.5509 0.5819780          
                time2010       0.14342650  0.25707352   0.5579 0.5772027          
                time2011       0.13835231  0.25723298   0.5378 0.5909729          
                time2012       0.13588928  0.25742356   0.5279 0.5978661          
                time2013       0.13049265  0.25753193   0.5067 0.6126337          
                time2014       0.13369288  0.25760809   0.5190 0.6040555          
                time2015       0.13077534  0.25768324   0.5075 0.6120733          
                time2016       0.13829378  0.25777495   0.5365 0.5919100          
                time2017       0.13687402  0.25788497   0.5308 0.5958745          
                time2018       0.13663538  0.25798198   0.5296 0.5966534          
                time2019       0.13074074  0.25808243   0.5066 0.6127175          
                iis130         0.05646763  0.01007925   5.6024 3.879e-08 ***      
                iis133        -0.04915187  0.01313907  -3.7409 0.0002094 ***      
                iis313         0.10082048  0.01178542   8.5547 2.368e-16 ***      
                iis314         0.22898593  0.01104412  20.7337 < 2.2e-16 ***      
                iis315         0.13768318  0.01050345  13.1084 < 2.2e-16 ***      
                iis323        -0.17273991  0.01124194 -15.3657 < 2.2e-16 ***      
                iis332         0.03542426  0.01061442   3.3374 0.0009228 ***      
                iis468         0.04082519  0.01062779   3.8414 0.0001417 ***      
                iis470        -0.11935126  0.01087121 -10.9787 < 2.2e-16 ***      
                fesisKOR.2009  0.04324735  0.00679642   6.3633 5.277e-10 ***      
                fesisKOR.2015 -0.03031638  0.00604823  -5.0124 8.004e-07 ***      
                tisCHN.2015    0.02362887  0.00257231   9.1859 < 2.2e-16 ***      
                tisJPN.2008   -0.05807219  0.00911050  -6.3742 4.945e-10 ***      
                tisJPN.2009    0.06643999  0.00989076   6.7174 6.182e-11 ***      
                tisUSA.2005    0.02686521  0.00312946   8.5846 < 2.2e-16 ***      
                tisUSA.2008   -0.04062693  0.00749809  -5.4183 1.027e-07 ***      
                tisUSA.2010    0.02344962  0.00706076   3.3211 0.0009767 ***      
                tisUSA.2014   -0.03253548  0.00434932  -7.4806 4.526e-13 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                    Chi-sq df p-value          
                Ljung-Box AR(1)    0.32933  1  0.5661          
                Ljung-Box ARCH(1) 75.71052  1  <2e-16 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                 
                SE of regression    0.00909      
                R-squared           0.99838      
                Log-lik.(n=475)  1590.67415      
0.01

                Formula: max_count_ccmt~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.01; AR: 1      
                      
                Date: Tue Mar 26 17:08:03 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                     coef   std.error   t-stat   p-value          
                ar1            0.92164731  0.01333540  69.1128 < 2.2e-16 ***      
                lgdp           0.01512646  0.00411605   3.6750 0.0002702 ***      
                lpop          -0.02925243  0.01423442  -2.0550 0.0405215 *        
                idAUT         -0.00311235  0.01180891  -0.2636 0.7922550          
                idBEL          0.00033237  0.00880942   0.0377 0.9699229          
                idBRA          0.05034307  0.02949537   1.7068 0.0886310 .        
                idCAN          0.01465045  0.00649279   2.2564 0.0245822 *        
                idCHE         -0.01509944  0.01318950  -1.1448 0.2529717          
                idCHN          0.09422570  0.05310347   1.7744 0.0767591 .        
                idDEU          0.05306429  0.01956293   2.7125 0.0069655 **       
                idDNK         -0.04151110  0.02014584  -2.0605 0.0399924 *        
                idESP          0.02762005  0.01149480   2.4028 0.0167223 *        
                idFIN         -0.01074487  0.01732326  -0.6203 0.5354411          
                idFRA          0.03898278  0.01534756   2.5400 0.0114618 *        
                idGBR          0.03620448  0.01511052   2.3960 0.0170336 *        
                idIND          0.06063679  0.05065041   1.1972 0.2319504          
                idISR         -0.02389053  0.01431153  -1.6693 0.0958342 .        
                idITA          0.03070165  0.01419648   2.1626 0.0311606 *        
                idJPN          0.03087426  0.02568549   1.2020 0.2300684          
                idKOR         -0.04808118  0.02342152  -2.0529 0.0407342 *        
                idNLD          0.00684626  0.00435354   1.5726 0.1166068          
                idNOR         -0.05406317  0.02294774  -2.3559 0.0189571 *        
                idRUS         -0.00454401  0.02275730  -0.1997 0.8418377          
                idSGP         -0.02078088  0.01882259  -1.1040 0.2702382          
                idSWE         -0.03697559  0.01445657  -2.5577 0.0109035 *        
                idTWN          0.01558739  0.00364772   4.2732 2.410e-05 ***      
                idUSA          0.10081795  0.03494541   2.8850 0.0041252 **       
                time2001       0.06958925  0.20305207   0.3427 0.7319915          
                time2002       0.06795261  0.20314205   0.3345 0.7381712          
                time2003       0.07174976  0.20320985   0.3531 0.7242124          
                time2004       0.07270016  0.20329918   0.3576 0.7208294          
                time2005       0.07177538  0.20336974   0.3529 0.7243260          
                time2006       0.07197794  0.20348924   0.3537 0.7237356          
                time2007       0.07374700  0.20361552   0.3622 0.7174027          
                time2008       0.07473096  0.20374909   0.3668 0.7139771          
                time2009       0.07624863  0.20389657   0.3740 0.7086337          
                time2010       0.07708041  0.20400854   0.3778 0.7057573          
                time2011       0.07241224  0.20411765   0.3548 0.7229579          
                time2012       0.07089025  0.20424732   0.3471 0.7287130          
                time2013       0.06729243  0.20433098   0.3293 0.7420778          
                time2014       0.06983007  0.20440895   0.3416 0.7328163          
                time2015       0.06797164  0.20449042   0.3324 0.7397645          
                time2016       0.07201468  0.20458577   0.3520 0.7250214          
                time2017       0.07369729  0.20466174   0.3601 0.7189671          
                time2018       0.07193263  0.20474225   0.3513 0.7255233          
                time2019       0.06603131  0.20482001   0.3224 0.7473275          
                iis130         0.04685850  0.00867166   5.4036 1.123e-07 ***      
                iis132        -0.04364712  0.01189459  -3.6695 0.0002759 ***      
                iis133        -0.08142484  0.01394984  -5.8370 1.098e-08 ***      
                iis146        -0.04174932  0.00781516  -5.3421 1.544e-07 ***      
                iis313         0.10855306  0.00922657  11.7653 < 2.2e-16 ***      
                iis314         0.23559291  0.00868916  27.1134 < 2.2e-16 ***      
                iis315         0.13671583  0.00823617  16.5994 < 2.2e-16 ***      
                iis323        -0.17071885  0.00884549 -19.3001 < 2.2e-16 ***      
                iis338        -0.08382065  0.00954076  -8.7855 < 2.2e-16 ***      
                iis340        -0.06161857  0.00854770  -7.2088 2.828e-12 ***      
                iis459        -0.03778384  0.00843779  -4.4779 9.839e-06 ***      
                iis463         0.03427361  0.00795625   4.3078 2.077e-05 ***      
                iis468         0.09112189  0.00898211  10.1448 < 2.2e-16 ***      
                iis469         0.06418385  0.00895868   7.1644 3.771e-12 ***      
                iis470        -0.08897469  0.00903455  -9.8483 < 2.2e-16 ***      
                iis473        -0.04723279  0.00894749  -5.2789 2.134e-07 ***      
                iis474        -0.04547220  0.00896215  -5.0738 5.976e-07 ***      
                iis475        -0.07742433  0.00902513  -8.5788 < 2.2e-16 ***      
                fesisDEU.2006  0.03503916  0.00466134   7.5170 3.698e-13 ***      
                fesisDEU.2012 -0.03276939  0.00416691  -7.8642 3.475e-14 ***      
                fesisJPN.2008 -0.07437338  0.00773144  -9.6196 < 2.2e-16 ***      
                fesisKOR.2009  0.07794742  0.00680466  11.4550 < 2.2e-16 ***      
                fesisKOR.2015  0.04610489  0.01101719   4.1848 3.510e-05 ***      
                fesisUSA.2005  0.03877285  0.00619137   6.2624 9.770e-10 ***      
                fesisUSA.2012 -0.03152524  0.00687437  -4.5859 6.050e-06 ***      
                tisCHN.2015    0.02754644  0.00281879   9.7724 < 2.2e-16 ***      
                tisJPN.2008    0.00793312  0.00088592   8.9547 < 2.2e-16 ***      
                tisKOR.2009   -0.01045296  0.00162876  -6.4177 3.908e-10 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                    Chi-sq df   p-value          
                Ljung-Box AR(1)    0.97541  1    0.3233          
                Ljung-Box ARCH(1) 42.08223  1 8.751e-11 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                 
                SE of regression    0.00715      
                R-squared           0.99902      
                Log-lik.(n=475)  1709.94923      

Energy

Count Energy

0.001

                Formula: count_energy~ gdp + pop      
                top_25 (2000:2019); p.value: 0.001; AR: 1      
                      
                Date: Tue Mar 26 16:59:47 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                     coef   std.error   t-stat   p-value          
                ar1            8.0227e-01  1.6464e-02  48.7281 < 2.2e-16 ***      
                gdp            8.5910e-13  8.8301e-14   9.7293 < 2.2e-16 ***      
                pop           -1.8225e-07  1.1155e-07  -1.6338 0.1030808          
                idAUT          1.9170e+00  1.4104e+01   0.1359 0.8919474          
                idBEL         -1.0168e+01  1.4094e+01  -0.7215 0.4710365          
                idBRA          1.4718e+01  2.3819e+01   0.6179 0.5369693          
                idCAN          2.8299e+01  1.4265e+01   1.9838 0.0479494 *        
                idCHE         -6.9654e-01  1.4110e+01  -0.0494 0.9606527          
                idCHN          3.0070e+02  1.4516e+02   2.0716 0.0389328 *        
                idDEU          1.8351e+02  2.4695e+01   7.4312 6.369e-13 ***      
                idDNK          2.6908e+01  1.4230e+01   1.8909 0.0593423 .        
                idESP          9.4773e+00  1.4278e+01   0.6638 0.5072097          
                idFIN         -1.0631e+01  1.4164e+01  -0.7506 0.4533520          
                idFRA          8.0866e+01  1.5783e+01   5.1235 4.637e-07 ***      
                idGBR          5.8093e+01  1.5277e+01   3.8027 0.0001650 ***      
                idIND          1.5088e+02  1.3489e+02   1.1185 0.2639945          
                idISR         -5.6129e+00  1.4118e+01  -0.3976 0.6911500          
                idITA          1.8897e+01  1.4680e+01   1.2872 0.1987443          
                idJPN          1.5655e+02  4.4088e+01   3.5508 0.0004289 ***      
                idKOR         -7.6241e+02  1.0080e+02  -7.5636 2.624e-13 ***      
                idNLD          5.1536e+00  1.4044e+01   0.3670 0.7138299          
                idNOR         -1.4859e+01  1.4194e+01  -1.0469 0.2957640          
                idRUS         -5.1433e+01  1.9710e+01  -2.6095 0.0094000 **       
                idSGP         -1.4360e+01  1.4186e+01  -1.0123 0.3119914          
                idSWE         -8.2803e+00  1.4105e+01  -0.5870 0.5574972          
                idTWN          4.2745e+01  1.4292e+01   2.9910 0.0029497 **       
                idUSA          3.5903e+02  4.3314e+01   8.2891 1.667e-15 ***      
                time2001       7.0858e+00  1.3177e+01   0.5377 0.5910478          
                time2002      -1.3145e+00  1.3175e+01  -0.0998 0.9205742          
                time2003       3.1482e+00  1.3184e+01   0.2388 0.8113878          
                time2004       2.1151e+01  1.3192e+01   1.6034 0.1096275          
                time2005       2.3229e+01  1.3188e+01   1.7613 0.0789336 .        
                time2006       1.8352e+01  1.3204e+01   1.3899 0.1653247          
                time2007       3.9766e+01  1.3232e+01   3.0054 0.0028164 **       
                time2008       4.2073e+01  1.3315e+01   3.1597 0.0016969 **       
                time2009       6.0336e+01  1.3694e+01   4.4062 1.347e-05 ***      
                time2010       5.4284e+01  1.3903e+01   3.9045 0.0001105 ***      
                time2011       4.9429e+01  1.4038e+01   3.5210 0.0004784 ***      
                time2012       1.5172e+01  1.4109e+01   1.0753 0.2828588          
                time2013      -7.1458e-02  1.3948e+01  -0.0051 0.9959148          
                time2014       1.5396e+01  1.3718e+01   1.1223 0.2623914          
                time2015      -2.6553e+00  1.3544e+01  -0.1960 0.8446717          
                time2016       1.9595e+01  1.3728e+01   1.4273 0.1542458          
                time2017       3.5545e+01  1.3670e+01   2.6002 0.0096557 **       
                time2018       2.8923e+01  1.3736e+01   2.1056 0.0358490 *        
                time2019       4.3897e+00  1.3770e+01   0.3188 0.7500421          
                iis130         2.8787e+02  5.0181e+01   5.7366 1.884e-08 ***      
                iis131         2.9355e+02  5.2023e+01   5.6426 3.138e-08 ***      
                iis132         3.0951e+02  5.4614e+01   5.6672 2.748e-08 ***      
                iis146        -3.0773e+02  4.7618e+01  -6.4625 2.940e-10 ***      
                iis313         8.4310e+02  7.8903e+01  10.6852 < 2.2e-16 ***      
                iis314         1.5762e+03  6.8684e+01  22.9483 < 2.2e-16 ***      
                iis315         8.8835e+02  5.7919e+01  15.3379 < 2.2e-16 ***      
                iis323        -9.3577e+02  5.8290e+01 -16.0537 < 2.2e-16 ***      
                iis332         3.4920e+02  4.7313e+01   7.3808 8.907e-13 ***      
                iis333         3.1280e+02  4.8872e+01   6.4003 4.263e-10 ***      
                iis336         2.1644e+02  5.3245e+01   4.0650 5.764e-05 ***      
                iis339         4.7921e+02  4.8611e+01   9.8581 < 2.2e-16 ***      
                iis470        -4.7558e+02  4.6965e+01 -10.1261 < 2.2e-16 ***      
                fesisDEU.2007  3.1695e+02  2.9042e+01  10.9136 < 2.2e-16 ***      
                fesisDEU.2012 -2.4665e+02  2.5935e+01  -9.5102 < 2.2e-16 ***      
                fesisJPN.2009 -3.0205e+02  7.8214e+01  -3.8618 0.0001309 ***      
                fesisKOR.2014 -3.5996e+02  4.5247e+01  -7.9556 1.776e-14 ***      
                tisCHN.2012    5.3932e+01  6.5571e+00   8.2250 2.641e-15 ***      
                tisJPN.2009    6.2150e+01  8.7054e+00   7.1393 4.328e-12 ***      
                tisUSA.2005    1.9785e+02  1.3802e+01  14.3352 < 2.2e-16 ***      
                tisUSA.2008   -2.4808e+02  1.5493e+01 -16.0123 < 2.2e-16 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                   Chi-sq df p-value          
                Ljung-Box AR(1)    1.1169  1  0.2906          
                Ljung-Box ARCH(1) 75.7868  1  <2e-16 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                  
                SE of regression    43.22276      
                R-squared            0.99814      
                Log-lik.(n=475)  -2429.52021      
0.01

                Formula: count_energy~ gdp + pop      
                top_25 (2000:2019); p.value: 0.01; AR: 1      
                      
                Date: Tue Mar 26 16:59:46 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                     coef   std.error   t-stat   p-value          
                ar1            7.7222e-01  1.3110e-02  58.9031 < 2.2e-16 ***      
                gdp            7.3570e-13  1.1197e-13   6.5703 1.558e-10 ***      
                pop            1.7344e-06  3.5671e-07   4.8621 1.669e-06 ***      
                idAUT          2.7942e+01  1.3741e+01   2.0334 0.0426662 *        
                idBEL          1.0028e+01  1.3441e+01   0.7461 0.4560654          
                idBRA         -3.2014e+02  6.3439e+01  -5.0464 6.833e-07 ***      
                idCAN          9.1894e+00  1.3570e+01   0.6772 0.4986794          
                idCHE          2.6730e+01  1.3821e+01   1.9340 0.0538109 .        
                idCHN         -2.1599e+03  4.6320e+02  -4.6629 4.249e-06 ***      
                idDEU          5.0510e+01  3.1201e+01   1.6189 0.1062579          
                idDNK          6.1929e+01  1.4290e+01   4.3336 1.855e-05 ***      
                idESP         -3.4231e+01  1.5256e+01  -2.2437 0.0253956 *        
                idFIN          2.0100e+01  1.4142e+01   1.4213 0.1560070          
                idFRA          8.0469e+00  1.9901e+01   0.4044 0.6861674          
                idGBR         -1.3555e+01  1.9306e+01  -0.7021 0.4829958          
                idIND         -1.8761e+03  3.8109e+02  -4.9231 1.246e-06 ***      
                idISR          2.1564e+01  1.3831e+01   1.5591 0.1197561          
                idITA         -5.0329e+01  1.8365e+01  -2.7405 0.0064074 **       
                idJPN          8.1894e+01  6.5022e+01   1.2595 0.2085857          
                idKOR         -6.6343e+02  1.2775e+02  -5.1932 3.291e-07 ***      
                idNLD          1.6352e+01  1.3009e+01   1.2570 0.2094903          
                idNOR          1.6818e+01  1.4214e+01   1.1832 0.2374241          
                idRUS         -2.7667e+02  4.6081e+01  -6.0040 4.308e-09 ***      
                idSGP          1.6729e+01  1.4199e+01   1.1782 0.2394094          
                idSWE          1.5848e+01  1.3614e+01   1.1641 0.2450730          
                idTWN          4.5603e+01  1.3029e+01   3.5000 0.0005173 ***      
                idUSA         -1.1858e+02  9.7831e+01  -1.2121 0.2261731          
                time2001      -2.8635e+01  1.3586e+01  -2.1076 0.0356815 *        
                time2002      -3.7403e+01  1.3667e+01  -2.7367 0.0064821 **       
                time2003      -3.3683e+01  1.3768e+01  -2.4465 0.0148511 *        
                time2004      -1.7466e+01  1.3870e+01  -1.2593 0.2086542          
                time2005      -1.6213e+01  1.3960e+01  -1.1613 0.2461906          
                time2006      -2.1626e+01  1.4074e+01  -1.5366 0.1251767          
                time2007       4.7731e+00  1.4198e+01   0.3362 0.7369156          
                time2008       2.0571e+00  1.4310e+01   0.1438 0.8857675          
                time2009       1.5242e+01  1.4621e+01   1.0425 0.2977975          
                time2010       1.5338e+01  1.4680e+01   1.0448 0.2967344          
                time2011       9.2260e+00  1.4761e+01   0.6250 0.5323037          
                time2012      -2.5735e+01  1.4992e+01  -1.7166 0.0868257 .        
                time2013      -2.8830e+01  1.5129e+01  -1.9056 0.0574204 .        
                time2014      -2.4561e+01  1.4907e+01  -1.6476 0.1002136          
                time2015      -4.3924e+01  1.4761e+01  -2.9758 0.0030989 **       
                time2016      -2.3159e+01  1.4767e+01  -1.5684 0.1175852          
                time2017      -6.9331e+00  1.4742e+01  -0.4703 0.6384039          
                time2018      -1.3475e+01  1.4797e+01  -0.9107 0.3629961          
                time2019      -4.1966e+01  1.4775e+01  -2.8402 0.0047369 **       
                iis130         2.6971e+02  4.5466e+01   5.9322 6.451e-09 ***      
                iis131         2.7056e+02  4.7836e+01   5.6560 2.945e-08 ***      
                iis132         2.8503e+02  5.1319e+01   5.5540 5.086e-08 ***      
                iis146        -3.0257e+02  4.7608e+01  -6.3555 5.642e-10 ***      
                iis313         5.8872e+02  4.2406e+01  13.8829 < 2.2e-16 ***      
                iis314         1.3650e+03  4.2302e+01  32.2680 < 2.2e-16 ***      
                iis315         7.4614e+02  4.6074e+01  16.1945 < 2.2e-16 ***      
                iis317        -2.6068e+02  4.4286e+01  -5.8863 8.336e-09 ***      
                iis323        -8.6229e+02  4.8040e+01 -17.9493 < 2.2e-16 ***      
                iis332         3.6821e+02  4.3892e+01   8.3890 8.411e-16 ***      
                iis333         3.2322e+02  4.4930e+01   7.1940 3.102e-12 ***      
                iis336         1.6432e+02  5.1515e+01   3.1897 0.0015360 **       
                iis339         4.8261e+02  4.4653e+01  10.8080 < 2.2e-16 ***      
                iis464         1.2179e+02  4.6042e+01   2.6452 0.0084834 **       
                iis465         1.6014e+02  4.4814e+01   3.5735 0.0003951 ***      
                iis470        -4.4524e+02  4.2910e+01 -10.3762 < 2.2e-16 ***      
                fesisDEU.2007  1.7944e+02  5.3575e+01   3.3494 0.0008863 ***      
                fesisDEU.2012 -3.1390e+02  4.5084e+01  -6.9626 1.368e-11 ***      
                fesisKOR.2014 -4.8331e+02  5.7432e+01  -8.4152 6.955e-16 ***      
                tisCHN.2014    5.7377e+01  9.4886e+00   6.0469 3.378e-09 ***      
                tisDEU.2004    3.3044e+01  9.6864e+00   3.4113 0.0007120 ***      
                tisDEU.2012   -3.2030e+01  1.1981e+01  -2.6733 0.0078176 **       
                tisIND.2002   -3.2480e+01  6.1566e+00  -5.2756 2.168e-07 ***      
                tisJPN.2009    3.4943e+01  3.8544e+00   9.0658 < 2.2e-16 ***      
                tisKOR.2009    3.0295e+01  1.0336e+01   2.9312 0.0035698 **       
                tisUSA.2005    1.8693e+02  1.3071e+01  14.3010 < 2.2e-16 ***      
                tisUSA.2008   -2.3510e+02  1.5229e+01 -15.4376 < 2.2e-16 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                  Chi-sq df   p-value          
                Ljung-Box AR(1)    2.375  1    0.1233          
                Ljung-Box ARCH(1) 38.109  1 6.689e-10 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                  
                SE of regression    39.60126      
                R-squared            0.99846      
                Log-lik.(n=475)  -2384.95477      

Log Count Energy

0.001

                Formula: log_count_energy~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.001; AR: 1      
                      
                Date: Tue Mar 26 17:02:54 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                   coef std.error  t-stat   p-value          
                ar1            0.578454  0.032073 18.0353 < 2.2e-16 ***      
                lgdp           0.725690  0.109028  6.6560 8.703e-11 ***      
                lpop          -1.674823  0.338378 -4.9496 1.074e-06 ***      
                idAUT         -0.449082  0.288850 -1.5547 0.1207558          
                idBEL         -0.421115  0.216254 -1.9473 0.0521554 .        
                idBRA          2.467845  0.694165  3.5551 0.0004202 ***      
                idCAN          1.000161  0.161222  6.2036 1.310e-09 ***      
                idCHE         -1.012341  0.315827 -3.2054 0.0014507 **       
                idCHN          5.299190  1.259724  4.2066 3.164e-05 ***      
                idDEU          2.891350  0.445015  6.4972 2.293e-10 ***      
                idDNK         -2.144544  0.475361 -4.5114 8.345e-06 ***      
                idESP          0.979644  0.285434  3.4321 0.0006576 ***      
                idFIN         -1.156702  0.419527 -2.7572 0.0060818 **       
                idFRA          2.221372  0.368916  6.0214 3.744e-09 ***      
                idGBR          2.185261  0.365067  5.9859 4.579e-09 ***      
                idIND          3.875393  1.210589  3.2012 0.0014711 **       
                idISR         -1.528075  0.342006 -4.4680 1.014e-05 ***      
                idITA          1.789731  0.340021  5.2636 2.247e-07 ***      
                idJPN          0.282371  0.585204  0.4825 0.6296865          
                idKOR         -2.368921  0.605083 -3.9150 0.0001053 ***      
                idNLD          0.252562  0.115475  2.1872 0.0292758 *        
                idNOR         -3.291267  0.554770 -5.9327 6.185e-09 ***      
                idRUS          0.435254  0.582559  0.7471 0.4553917          
                idSGP         -2.650062  0.501569 -5.2835 2.029e-07 ***      
                idSWE         -2.142705  0.350310 -6.1166 2.170e-09 ***      
                idTWN          0.897916  0.103377  8.6858 < 2.2e-16 ***      
                idUSA          4.100635  0.816667  5.0212 7.571e-07 ***      
                time2001       9.546969  4.952316  1.9278 0.0545487 .        
                time2002       9.495034  4.954115  1.9166 0.0559597 .        
                time2003       9.551290  4.954005  1.9280 0.0545219 .        
                time2004       9.639726  4.955844  1.9451 0.0524193 .        
                time2005       9.741739  4.957697  1.9650 0.0500684 .        
                time2006       9.776880  4.959646  1.9713 0.0493395 *        
                time2007       9.955695  4.962849  2.0060 0.0454847 *        
                time2008      10.025543  4.965206  2.0192 0.0440980 *        
                time2009      10.076209  4.967212  2.0285 0.0431278 *        
                time2010      10.056907  4.969199  2.0238 0.0436109 *        
                time2011      10.058501  4.971093  2.0234 0.0436575 *        
                time2012       9.947145  4.973213  2.0001 0.0461205 *        
                time2013       9.834405  4.975530  1.9766 0.0487381 *        
                time2014       9.854278  4.977992  1.9796 0.0483968 *        
                time2015       9.808409  4.980240  1.9695 0.0495488 *        
                time2016       9.902999  4.982566  1.9875 0.0475051 *        
                time2017       9.943662  4.984281  1.9950 0.0466805 *        
                time2018       9.901148  4.986113  1.9857 0.0477038 *        
                time2019       9.757669  4.987772  1.9563 0.0510823 .        
                iis74         -0.735622  0.192370 -3.8240 0.0001510 ***      
                fesisESP.2003  0.630340  0.142233  4.4317 1.191e-05 ***      
                fesisRUS.2007 -0.488747  0.102521 -4.7673 2.569e-06 ***      
                fesisSGP.2003  0.903644  0.145193  6.2237 1.165e-09 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                      Chi-sq df  p-value          
                Ljung-Box AR(1)    0.0059366  1 0.938584          
                Ljung-Box ARCH(1) 13.1211724  1 0.000292 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                
                SE of regression   0.18279      
                R-squared          0.98625      
                Log-lik.(n=475)  158.22408      
0.01

                Formula: log_count_energy~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.01; AR: 1      
                      
                Date: Tue Mar 26 17:02:54 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                   coef std.error  t-stat   p-value          
                ar1            0.547768  0.029767 18.4019 < 2.2e-16 ***      
                lgdp           0.683959  0.109212  6.2626 9.527e-10 ***      
                lpop          -1.586380  0.341905 -4.6398 4.692e-06 ***      
                idAUT         -0.432067  0.286001 -1.5107 0.1316277          
                idBEL         -0.342328  0.214390 -1.5968 0.1110866          
                idBRA          1.639476  0.696453  2.3540 0.0190396 *        
                idCAN          0.994955  0.159555  6.2358 1.115e-09 ***      
                idCHE         -0.959095  0.315128 -3.0435 0.0024882 **       
                idCHN          5.037915  1.270884  3.9641 8.684e-05 ***      
                idDEU          2.879905  0.447834  6.4307 3.523e-10 ***      
                idDNK         -2.288836  0.485593 -4.7135 3.337e-06 ***      
                idESP          0.871054  0.274479  3.1735 0.0016192 **       
                idFIN         -1.137549  0.418617 -2.7174 0.0068572 **       
                idFRA          2.180272  0.371083  5.8754 8.706e-09 ***      
                idGBR          2.133808  0.367327  5.8090 1.258e-08 ***      
                idIND          3.673441  1.212823  3.0288 0.0026095 **       
                idISR         -1.462923  0.343256 -4.2619 2.515e-05 ***      
                idITA          1.718463  0.342047  5.0241 7.553e-07 ***      
                idJPN          0.481343  0.585801  0.8217 0.4117319          
                idKOR         -2.079844  0.606902 -3.4270 0.0006717 ***      
                idNLD          0.247902  0.109358  2.2669 0.0239150 *        
                idNOR         -3.158116  0.560318 -5.6363 3.228e-08 ***      
                idRUS          0.395239  0.575115  0.6872 0.4923211          
                idSGP         -2.656453  0.500923 -5.3031 1.861e-07 ***      
                idSWE         -2.036025  0.353517 -5.7593 1.654e-08 ***      
                idTWN          0.896391  0.097319  9.2108 < 2.2e-16 ***      
                idUSA          4.065720  0.822153  4.9452 1.109e-06 ***      
                time2001       9.361479  4.935533  1.8968 0.0585599 .        
                time2002       9.307253  4.937426  1.8850 0.0601277 .        
                time2003       9.382062  4.938952  1.8996 0.0581829 .        
                time2004       9.426267  4.940510  1.9080 0.0570920 .        
                time2005       9.536034  4.942863  1.9293 0.0543859 .        
                time2006       9.593812  4.944869  1.9402 0.0530429 .        
                time2007       9.738097  4.947520  1.9683 0.0497061 *        
                time2008       9.822186  4.950358  1.9841 0.0479037 *        
                time2009       9.883925  4.952834  1.9956 0.0466344 *        
                time2010       9.876216  4.954935  1.9932 0.0468977 *        
                time2011       9.886885  4.956848  1.9946 0.0467459 *        
                time2012       9.783170  4.958976  1.9728 0.0491841 *        
                time2013       9.673907  4.961001  1.9500 0.0518551 .        
                time2014       9.663901  4.962993  1.9472 0.0521908 .        
                time2015       9.609415  4.965080  1.9354 0.0536252 .        
                time2016       9.686525  4.967002  1.9502 0.0518331 .        
                time2017       9.762755  4.968862  1.9648 0.0501105 .        
                time2018       9.721512  4.970529  1.9558 0.0511606 .        
                time2019       9.609059  4.972178  1.9326 0.0539749 .        
                iis41         -0.648768  0.165873 -3.9112 0.0001074 ***      
                iis43         -0.555559  0.165119 -3.3646 0.0008384 ***      
                iis57         -0.604621  0.165440 -3.6546 0.0002909 ***      
                iis74         -0.899794  0.175990 -5.1128 4.872e-07 ***      
                iis415         0.525229  0.171641  3.0600 0.0023577 **       
                fesisBRA.2014  0.778779  0.159006  4.8978 1.395e-06 ***      
                fesisCHN.2015  0.313585  0.101273  3.0964 0.0020926 **       
                fesisDNK.2005  0.371551  0.092374  4.0223 6.857e-05 ***      
                fesisRUS.2007 -0.462434  0.090130 -5.1307 4.454e-07 ***      
                fesisSGP.2003  1.162718  0.149814  7.7611 6.712e-14 ***      
                fesisSGP.2006 -0.775538  0.188124 -4.1225 4.534e-05 ***      
                fesisSGP.2007  1.148618  0.186656  6.1537 1.796e-09 ***      
                tisBRA.2002    0.229749  0.040765  5.6359 3.234e-08 ***      
                tisBRA.2006   -0.305001  0.051979 -5.8677 9.087e-09 ***      
                tisESP.2003    0.417821  0.069228  6.0354 3.537e-09 ***      
                tisESP.2005   -0.438819  0.073845 -5.9424 5.984e-09 ***      
                tisSGP.2002   -0.048902  0.012492 -3.9146 0.0001059 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                  Chi-sq df  p-value         
                Ljung-Box AR(1)   2.8141  1 0.093437 .       
                Ljung-Box ARCH(1) 7.1960  1 0.007307 **      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                
                SE of regression   0.15681      
                R-squared          0.99019      
                Log-lik.(n=475)  237.56048      

Ihs Count Energy

0.001

                Formula: ihs_count_energy~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.001; AR: 1      
                      
                Date: Tue Mar 26 17:04:37 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                   coef std.error  t-stat   p-value          
                ar1            0.562326  0.031057 18.1065 < 2.2e-16 ***      
                lgdp           0.771584  0.105788  7.2937 1.520e-12 ***      
                lpop          -1.782595  0.367636 -4.8488 1.754e-06 ***      
                idAUT         -0.480959  0.319056 -1.5074 0.1324498          
                idBEL         -0.447174  0.238347 -1.8761 0.0613301 .        
                idBRA          1.911066  0.759130  2.5174 0.0121931 *        
                idCAN          1.058705  0.173563  6.0998 2.416e-09 ***      
                idCHE         -1.077809  0.348550 -3.0923 0.0021191 **       
                idCHN          5.618312  1.395136  4.0271 6.705e-05 ***      
                idDEU          3.053709  0.487390  6.2654 9.237e-10 ***      
                idDNK         -2.290275  0.513494 -4.4602 1.053e-05 ***      
                idESP          1.020695  0.298481  3.4196 0.0006885 ***      
                idFIN         -1.231483  0.466539 -2.6396 0.0086098 **       
                idFRA          2.351474  0.402175  5.8469 1.009e-08 ***      
                idGBR          2.315815  0.396398  5.8421 1.036e-08 ***      
                idIND          4.125647  1.341820  3.0747 0.0022453 **       
                idISR         -1.626194  0.374853 -4.3382 1.802e-05 ***      
                idITA          1.901856  0.368865  5.1560 3.898e-07 ***      
                idJPN          0.270631  0.633911  0.4269 0.6696547          
                idKOR         -2.545818  0.598253 -4.2554 2.577e-05 ***      
                idNLD          0.267272  0.119333  2.2397 0.0256335 *        
                idNOR         -3.500335  0.595355 -5.8794 8.418e-09 ***      
                idRUS          0.454238  0.640226  0.7095 0.4784112          
                idSGP         -3.202399  0.560735 -5.7111 2.130e-08 ***      
                idSWE         -2.277768  0.369150 -6.1703 1.609e-09 ***      
                idTWN          0.943939  0.100983  9.3475 < 2.2e-16 ***      
                idUSA          4.335136  0.906598  4.7818 2.410e-06 ***      
                time2001      10.465781  5.505462  1.9010 0.0579903 .        
                time2002      10.391787  5.507713  1.8868 0.0598824 .        
                time2003      10.434805  5.509264  1.8940 0.0589072 .        
                time2004      10.530499  5.511268  1.9107 0.0567226 .        
                time2005      10.621863  5.513735  1.9264 0.0547259 .        
                time2006      10.703267  5.515961  1.9404 0.0529995 .        
                time2007      10.840661  5.518929  1.9643 0.0501595 .        
                time2008      10.917144  5.522137  1.9770 0.0486992 *        
                time2009      10.974535  5.524921  1.9864 0.0476433 *        
                time2010      10.958129  5.527268  1.9826 0.0480696 *        
                time2011      10.962957  5.529388  1.9827 0.0480569 *        
                time2012      10.853781  5.531739  1.9621 0.0504132 .        
                time2013      10.739757  5.533937  1.9407 0.0529641 .        
                time2014      10.759918  5.536070  1.9436 0.0526126 .        
                time2015      10.713586  5.538211  1.9345 0.0537264 .        
                time2016      10.809951  5.540391  1.9511 0.0517092 .        
                time2017      10.855617  5.542349  1.9587 0.0508147 .        
                time2018      10.813163  5.544179  1.9504 0.0517993 .        
                time2019      10.668770  5.545897  1.9237 0.0550665 .        
                iis74         -0.835396  0.195809 -4.2664 2.458e-05 ***      
                iis402         0.834814  0.203702  4.0982 5.000e-05 ***      
                fesisESP.2003  0.692279  0.137908  5.0198 7.661e-07 ***      
                fesisRUS.2007 -0.497692  0.099698 -4.9920 8.782e-07 ***      
                fesisSGP.2006 -1.530672  0.264974 -5.7767 1.487e-08 ***      
                fesisSGP.2007  1.226899  0.210144  5.8384 1.058e-08 ***      
                tisBRA.2002    0.269772  0.060662  4.4471 1.116e-05 ***      
                tisBRA.2005   -0.272015  0.066019 -4.1203 4.562e-05 ***      
                tisSGP.2002    0.401284  0.057124  7.0248 8.722e-12 ***      
                tisSGP.2007   -0.446251  0.058734 -7.5978 1.987e-13 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                    Chi-sq df  p-value         
                Ljung-Box AR(1)    0.37149  1 0.542195         
                Ljung-Box ARCH(1) 10.20229  1 0.001403 **      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                
                SE of regression   0.17650      
                R-squared          0.98769      
                Log-lik.(n=475)  177.85096      
0.01

                Formula: ihs_count_energy~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.01; AR: 1      
                      
                Date: Tue Mar 26 17:04:38 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                   coef std.error  t-stat   p-value          
                ar1            0.586116  0.029150 20.1071 < 2.2e-16 ***      
                lgdp           0.604756  0.110039  5.4959 6.881e-08 ***      
                lpop          -1.427243  0.339454 -4.2045 3.221e-05 ***      
                idAUT         -0.403325  0.284639 -1.4170 0.1572592          
                idBEL         -0.317400  0.213302 -1.4880 0.1375185          
                idBRA          1.893666  0.691764  2.7374 0.0064641 **       
                idCAN          0.903159  0.158058  5.7141 2.137e-08 ***      
                idCHE         -0.875362  0.312952 -2.7971 0.0054014 **       
                idCHN          4.592439  1.260931  3.6421 0.0003054 ***      
                idDEU          2.618744  0.443233  5.9083 7.323e-09 ***      
                idDNK         -1.990043  0.480783 -4.1392 4.241e-05 ***      
                idESP          0.746690  0.273000  2.7351 0.0065089 **       
                idFIN         -1.053657  0.415855 -2.5337 0.0116614 *        
                idFRA          1.979197  0.367771  5.3816 1.251e-07 ***      
                idGBR          1.932550  0.364222  5.3060 1.847e-07 ***      
                idIND          3.358260  1.204428  2.7883 0.0055483 **       
                idISR         -1.325455  0.340605 -3.8915 0.0001164 ***      
                idITA          1.550523  0.339434  4.5680 6.541e-06 ***      
                idJPN          0.522081  0.585566  0.8916 0.3731440          
                idKOR         -1.768277  0.612434 -2.8873 0.0040934 **       
                idNLD          0.213242  0.109702  1.9438 0.0526070 .        
                idNOR         -2.848153  0.556582 -5.1172 4.794e-07 ***      
                idRUS          0.391387  0.573720  0.6822 0.4955067          
                idSGP         -2.213464  0.501442 -4.4142 1.301e-05 ***      
                idSWE         -1.828112  0.351698 -5.1980 3.199e-07 ***      
                idTWN          0.819800  0.097313  8.4244 6.342e-16 ***      
                idUSA          3.709267  0.814339  4.5549 6.939e-06 ***      
                time2001       9.051779  4.910105  1.8435 0.0659847 .        
                time2002       8.946333  4.911801  1.8214 0.0692825 .        
                time2003       9.049696  4.913289  1.8419 0.0662216 .        
                time2004       9.111019  4.914894  1.8538 0.0644991 .        
                time2005       9.204686  4.916839  1.8721 0.0619150 .        
                time2006       9.266194  4.918703  1.8839 0.0602970 .        
                time2007       9.405373  4.921719  1.9110 0.0567093 .        
                time2008       9.475752  4.924387  1.9243 0.0550219 .        
                time2009       9.522384  4.926687  1.9328 0.0539539 .        
                time2010       9.508565  4.928738  1.9292 0.0544016 .        
                time2011       9.515320  4.930626  1.9298 0.0543230 .        
                time2012       9.406095  4.932725  1.9069 0.0572422 .        
                time2013       9.295776  4.934810  1.8837 0.0603180 .        
                time2014       9.300767  4.936749  1.8840 0.0602811 .        
                time2015       9.245986  4.938903  1.8721 0.0619152 .        
                time2016       9.341022  4.940875  1.8906 0.0593949 .        
                time2017       9.410188  4.942715  1.9039 0.0576365 .        
                time2018       9.331927  4.944614  1.8873 0.0598343 .        
                time2019       9.258609  4.946031  1.8719 0.0619354 .        
                iis41         -0.696284  0.165057 -4.2185 3.036e-05 ***      
                iis43         -0.580517  0.164520 -3.5286 0.0004656 ***      
                iis57         -0.640753  0.164745 -3.8894 0.0001174 ***      
                iis58         -0.700489  0.167825 -4.1739 3.665e-05 ***      
                iis62          0.581190  0.167450  3.4708 0.0005745 ***      
                iis63          0.559701  0.167923  3.3331 0.0009377 ***      
                iis74         -0.709687  0.195096 -3.6376 0.0003106 ***      
                iis75          0.522275  0.197410  2.6456 0.0084704 **       
                iis400        -0.769137  0.199663 -3.8522 0.0001360 ***      
                iis402         1.069088  0.197535  5.4121 1.067e-07 ***      
                iis403         0.744115  0.195268  3.8107 0.0001600 ***      
                iis404         1.140998  0.195981  5.8220 1.183e-08 ***      
                iis415         0.638884  0.174049  3.6707 0.0002742 ***      
                iis417         0.557252  0.183310  3.0399 0.0025195 **       
                fesisBRA.2014  0.545598  0.123505  4.4176 1.282e-05 ***      
                fesisBRA.2016 -0.489606  0.160739 -3.0460 0.0024707 **       
                fesisCHN.2015  0.309392  0.100694  3.0726 0.0022650 **       
                fesisDNK.2007  0.303230  0.081934  3.7009 0.0002444 ***      
                fesisRUS.2007 -0.423258  0.089653 -4.7211 3.235e-06 ***      
                fesisSGP.2007  1.395564  0.164542  8.4815 4.184e-16 ***      
                tisESP.2003    0.405515  0.068698  5.9028 7.549e-09 ***      
                tisESP.2005   -0.427286  0.073297 -5.8295 1.134e-08 ***      
                tisSGP.2002   -0.066343  0.013414 -4.9459 1.112e-06 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                   Chi-sq df   p-value          
                Ljung-Box AR(1)    4.9388  1 0.0262609 *        
                Ljung-Box ARCH(1) 12.8836  1 0.0003315 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                
                SE of regression   0.15601      
                R-squared          0.99068      
                Log-lik.(n=475)  242.98999      

Max Count Energy

0.001

                Formula: max_count_energy~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.001; AR: 1      
                      
                Date: Tue Mar 26 17:08:05 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                    coef  std.error   t-stat   p-value          
                ar1            0.8632216  0.0155585  55.4824 < 2.2e-16 ***      
                lgdp           0.0166911  0.0053517   3.1188 0.0019428 **       
                lpop          -0.0372730  0.0184865  -2.0162 0.0444234 *        
                idAUT         -0.0086681  0.0154775  -0.5600 0.5757549          
                idBEL         -0.0038750  0.0115741  -0.3348 0.7379440          
                idBRA          0.0657788  0.0383777   1.7140 0.0872821 .        
                idCAN          0.0176308  0.0084519   2.0860 0.0375895 *        
                idCHE         -0.0221505  0.0172077  -1.2872 0.1987292          
                idCHN          0.1209023  0.0690646   1.7506 0.0807628 .        
                idDEU          0.0811846  0.0243593   3.3328 0.0009373 ***      
                idDNK         -0.0501892  0.0261004  -1.9229 0.0551764 .        
                idESP          0.0344129  0.0149649   2.2996 0.0219708 *        
                idFIN         -0.0198178  0.0226592  -0.8746 0.3822986          
                idFRA          0.0462127  0.0197920   2.3349 0.0200262 *        
                idGBR          0.0444540  0.0195474   2.2742 0.0234684 *        
                idIND          0.0850335  0.0660143   1.2881 0.1984298          
                idISR         -0.0318009  0.0186255  -1.7074 0.0885014 .        
                idITA          0.0374516  0.0184190   2.0333 0.0426603 *        
                idJPN          0.0498258  0.0334917   1.4877 0.1375918          
                idKOR         -0.0466347  0.0308112  -1.5136 0.1309016          
                idNLD          0.0050018  0.0057669   0.8673 0.3862682          
                idNOR         -0.0673757  0.0297593  -2.2640 0.0240907 *        
                idRUS          0.0043938  0.0298365   0.1473 0.8829973          
                idSGP         -0.0307181  0.0245478  -1.2514 0.2115128          
                idSWE         -0.0467193  0.0187926  -2.4860 0.0133116 *        
                idTWN          0.0166453  0.0047300   3.5191 0.0004812 ***      
                idUSA          0.1087202  0.0447770   2.4280 0.0156071 *        
                time2001       0.1611306  0.2656130   0.6066 0.5444254          
                time2002       0.1596311  0.2657350   0.6007 0.5483592          
                time2003       0.1604420  0.2658320   0.6035 0.5464764          
                time2004       0.1637028  0.2659428   0.6156 0.5385264          
                time2005       0.1640734  0.2660569   0.6167 0.5377821          
                time2006       0.1630832  0.2661816   0.6127 0.5404273          
                time2007       0.1695964  0.2663212   0.6368 0.5246003          
                time2008       0.1695081  0.2665281   0.6360 0.5251380          
                time2009       0.1721494  0.2667334   0.6454 0.5190273          
                time2010       0.1699753  0.2668891   0.6369 0.5245585          
                time2011       0.1681416  0.2670370   0.6297 0.5292674          
                time2012       0.1594378  0.2671882   0.5967 0.5510183          
                time2013       0.1595301  0.2672922   0.5968 0.5509427          
                time2014       0.1628878  0.2673572   0.6093 0.5426927          
                time2015       0.1597910  0.2674560   0.5974 0.5505360          
                time2016       0.1630205  0.2675390   0.6093 0.5426385          
                time2017       0.1659898  0.2676563   0.6202 0.5354941          
                time2018       0.1645350  0.2677726   0.6145 0.5392510          
                time2019       0.1573636  0.2678673   0.5875 0.5572101          
                iis146        -0.0765217  0.0103142  -7.4190 6.773e-13 ***      
                iis313         0.1850591  0.0168846  10.9602 < 2.2e-16 ***      
                iis314         0.3178006  0.0148944  21.3369 < 2.2e-16 ***      
                iis315         0.1704882  0.0129595  13.1555 < 2.2e-16 ***      
                iis323        -0.1808061  0.0130055 -13.9023 < 2.2e-16 ***      
                iis332         0.0758427  0.0103412   7.3340 1.190e-12 ***      
                iis333         0.0633508  0.0104426   6.0666 2.956e-09 ***      
                iis339         0.0982136  0.0108729   9.0329 < 2.2e-16 ***      
                iis470        -0.0974258  0.0104400  -9.3320 < 2.2e-16 ***      
                fesisCHN.2016  0.0826954  0.0071560  11.5560 < 2.2e-16 ***      
                fesisJPN.2009 -0.0918529  0.0161997  -5.6700 2.686e-08 ***      
                fesisKOR.2014 -0.1170876  0.0114752 -10.2035 < 2.2e-16 ***      
                tisJPN.2009    0.0141311  0.0019195   7.3619 9.900e-13 ***      
                tisKOR.2009    0.0139182  0.0015231   9.1378 < 2.2e-16 ***      
                tisUSA.2005    0.0303943  0.0028392  10.7051 < 2.2e-16 ***      
                tisUSA.2008   -0.0397594  0.0032556 -12.2125 < 2.2e-16 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                   Chi-sq df   p-value          
                Ljung-Box AR(1)    4.0524  1   0.04411 *        
                Ljung-Box ARCH(1) 55.8848  1 7.683e-14 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                 
                SE of regression    0.00969      
                R-squared           0.99737      
                Log-lik.(n=475)  1559.63396      
0.01

                Formula: max_count_energy~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.01; AR: 1      
                      
                Date: Tue Mar 26 17:08:06 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                     coef   std.error   t-stat   p-value          
                ar1            0.84108382  0.01453651  57.8601 < 2.2e-16 ***      
                lgdp           0.01795479  0.00440808   4.0732 5.583e-05 ***      
                lpop          -0.04090994  0.01540766  -2.6552  0.008240 **       
                idAUT         -0.01015238  0.01295464  -0.7837  0.433683          
                idBEL         -0.00479448  0.00967443  -0.4956  0.620458          
                idBRA          0.07242385  0.03203917   2.2605  0.024323 *        
                idCAN          0.01959065  0.00701096   2.7943  0.005449 **       
                idCHE         -0.02463110  0.01438297  -1.7125  0.087568 .        
                idCHN          0.13236617  0.05770665   2.2938  0.022316 *        
                idDEU          0.07341074  0.02070620   3.5454  0.000438 ***      
                idDNK         -0.05498323  0.02174911  -2.5281  0.011849 *        
                idESP          0.03766614  0.01242886   3.0305  0.002598 **       
                idFIN         -0.02253290  0.01896581  -1.1881  0.235500          
                idFRA          0.05105628  0.01646200   3.1015  0.002061 **       
                idGBR          0.04902398  0.01625924   3.0151  0.002731 **       
                idIND          0.09472049  0.05522750   1.7151  0.087094 .        
                idISR         -0.03508364  0.01553915  -2.2578  0.024494 *        
                idITA          0.04120576  0.01533585   2.6869  0.007510 **       
                idJPN          0.05883307  0.02788388   2.1099  0.035479 *        
                idKOR         -0.04964123  0.02546620  -1.9493  0.051951 .        
                idNLD          0.00522787  0.00478527   1.0925  0.275268          
                idNOR         -0.07378221  0.02475164  -2.9809  0.003048 **       
                idRUS          0.00620575  0.02500664   0.2482  0.804134          
                idSGP         -0.03434920  0.02052672  -1.6734  0.095025 .        
                idSWE         -0.05094858  0.01559355  -3.2673  0.001179 **       
                idTWN          0.01817673  0.00387277   4.6935 3.684e-06 ***      
                idUSA          0.12014343  0.03730817   3.2203  0.001384 **       
                time2001       0.18755640  0.22258143   0.8426  0.399927          
                time2002       0.18614417  0.22268044   0.8359  0.403691          
                time2003       0.18699460  0.22276011   0.8394  0.401717          
                time2004       0.19029174  0.22285111   0.8539  0.393668          
                time2005       0.19082305  0.22294507   0.8559  0.392550          
                time2006       0.19001287  0.22304707   0.8519  0.394777          
                time2007       0.19455620  0.22318057   0.8717  0.383866          
                time2008       0.19366435  0.22334899   0.8671  0.386406          
                time2009       0.19619111  0.22350781   0.8778  0.380584          
                time2010       0.19545650  0.22363135   0.8740  0.382631          
                time2011       0.19415612  0.22374809   0.8677  0.386049          
                time2012       0.18749054  0.22389249   0.8374  0.402855          
                time2013       0.18726820  0.22396706   0.8361  0.403569          
                time2014       0.18889877  0.22406477   0.8431  0.399697          
                time2015       0.18573371  0.22414576   0.8286  0.407804          
                time2016       0.18958027  0.22424151   0.8454  0.398372          
                time2017       0.19269726  0.22432523   0.8590  0.390845          
                time2018       0.19136713  0.22440977   0.8528  0.394299          
                time2019       0.18547624  0.22449155   0.8262  0.409175          
                iis130         0.06325943  0.00880731   7.1826 3.316e-12 ***      
                iis131         0.05781718  0.00936920   6.1710 1.651e-09 ***      
                iis132         0.05468546  0.01021136   5.3554 1.436e-07 ***      
                iis146        -0.06292214  0.00866353  -7.2629 1.965e-12 ***      
                iis313         0.10707633  0.00844087  12.6855 < 2.2e-16 ***      
                iis314         0.25089427  0.00846635  29.6343 < 2.2e-16 ***      
                iis315         0.11844940  0.00935740  12.6584 < 2.2e-16 ***      
                iis316        -0.03917298  0.00965288  -4.0582 5.939e-05 ***      
                iis317        -0.06616102  0.00898639  -7.3624 1.022e-12 ***      
                iis323        -0.15872576  0.00951037 -16.6897 < 2.2e-16 ***      
                iis332         0.08094419  0.00845417   9.5745 < 2.2e-16 ***      
                iis333         0.07047373  0.00866371   8.1344 5.152e-15 ***      
                iis336         0.02721632  0.01023758   2.6585  0.008161 **       
                iis339         0.09614713  0.00885907  10.8530 < 2.2e-16 ***      
                iis464         0.02728703  0.00915230   2.9814  0.003043 **       
                iis465         0.02905789  0.00890263   3.2640  0.001192 **       
                iis470        -0.09155833  0.00852156 -10.7443 < 2.2e-16 ***      
                fesisDEU.2007  0.05358941  0.00520927  10.2873 < 2.2e-16 ***      
                fesisDEU.2012 -0.04893903  0.00476964 -10.2605 < 2.2e-16 ***      
                fesisKOR.2014 -0.10001133  0.01129353  -8.8556 < 2.2e-16 ***      
                tisCHN.2015    0.01271105  0.00204561   6.2138 1.288e-09 ***      
                tisJPN.2009    0.00431556  0.00078714   5.4826 7.398e-08 ***      
                tisKOR.2009    0.01278323  0.00145018   8.8149 < 2.2e-16 ***      
                tisUSA.2005    0.02930674  0.00265376  11.0435 < 2.2e-16 ***      
                tisUSA.2008   -0.03768366  0.00307116 -12.2702 < 2.2e-16 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                   Chi-sq df   p-value          
                Ljung-Box AR(1)    1.0477  1     0.306          
                Ljung-Box ARCH(1) 29.2888  1 6.236e-08 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                 
                SE of regression    0.00787      
                R-squared           0.99830      
                Log-lik.(n=475)  1662.98207      

Solar

Count Solar

0.001

                Formula: count_solar~ gdp + pop      
                top_25 (2000:2019); p.value: 0.001; AR: 1      
                      
                Date: Tue Mar 26 17:01:22 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                     coef   std.error   t-stat   p-value          
                ar1            6.2404e-01  2.1649e-02  28.8248 < 2.2e-16 ***      
                gdp            3.1272e-13  1.0069e-13   3.1059 0.0020298 **       
                pop           -8.0579e-08  6.7210e-08  -1.1989 0.2312553          
                idAUT         -7.4397e+00  7.6190e+00  -0.9765 0.3294099          
                idBEL         -9.7568e+00  7.6080e+00  -1.2824 0.2004170          
                idBRA         -2.1861e+00  1.3804e+01  -0.1584 0.8742398          
                idCAN          1.1912e+00  7.5988e+00   0.1568 0.8755155          
                idCHE         -1.3076e+00  7.6118e+00  -0.1718 0.8636933          
                idCHN          1.1356e+02  8.5513e+01   1.3280 0.1849162          
                idDEU          8.2114e+01  1.2046e+01   6.8169 3.359e-11 ***      
                idDNK         -1.4471e+01  7.6833e+00  -1.8834 0.0603552 .        
                idESP          3.1531e+00  7.7218e+00   0.4083 0.6832363          
                idFIN         -1.4143e+01  7.6763e+00  -1.8424 0.0661417 .        
                idFRA          3.0351e+01  8.2287e+00   3.6884 0.0002562 ***      
                idGBR          1.2749e+01  8.0671e+00   1.5804 0.1147830          
                idIND          6.4990e+01  7.8392e+01   0.8290 0.4075699          
                idISR         -8.0841e-01  7.6163e+00  -0.1061 0.9155219          
                idITA          1.0839e+01  7.9776e+00   1.3587 0.1749966          
                idJPN         -9.7253e+00  4.8095e+01  -0.2022 0.8398520          
                idKOR         -3.1419e+02  1.0865e+02  -2.8919 0.0040347 **       
                idNLD         -1.0330e+00  7.5651e+00  -0.1365 0.8914542          
                idNOR         -1.5906e+01  7.7071e+00  -2.0638 0.0396695 *        
                idRUS         -2.7502e+01  1.1177e+01  -2.4607 0.0142801 *        
                idSGP         -1.4082e+01  7.6767e+00  -1.8344 0.0673233 .        
                idSWE         -1.3009e+01  7.6545e+00  -1.6995 0.0899960 .        
                idTWN          3.4566e+01  7.7618e+00   4.4534 1.093e-05 ***      
                idUSA          9.9663e+01  2.2400e+01   4.4493 1.113e-05 ***      
                time2001       5.0585e+00  7.1935e+00   0.7032 0.4823235          
                time2002       2.5540e+00  7.1619e+00   0.3566 0.7215692          
                time2003       7.5650e+00  7.1511e+00   1.0579 0.2907370          
                time2004       1.0667e+01  7.1417e+00   1.4937 0.1360392          
                time2005       1.4820e+01  7.1898e+00   2.0613 0.0399118 *        
                time2006       1.7066e+01  7.2090e+00   2.3673 0.0183852 *        
                time2007       2.3248e+01  7.2315e+00   3.2148 0.0014093 **       
                time2008       3.5733e+01  7.2553e+00   4.9251 1.227e-06 ***      
                time2009       4.5818e+01  7.3476e+00   6.2357 1.125e-09 ***      
                time2010       3.1120e+01  7.5946e+00   4.0977 5.036e-05 ***      
                time2011       3.5590e+01  7.6545e+00   4.6496 4.498e-06 ***      
                time2012       2.0272e+01  7.6267e+00   2.6581 0.0081680 **       
                time2013       1.5143e+01  7.4476e+00   2.0333 0.0426722 *        
                time2014       7.8756e+00  7.3651e+00   1.0693 0.2855560          
                time2015       2.0030e+01  7.2928e+00   2.7466 0.0062884 **       
                time2016       1.7369e+01  7.3742e+00   2.3554 0.0189733 *        
                time2017       1.2924e+01  7.3695e+00   1.7537 0.0802370 .        
                time2018       2.0290e+01  7.4037e+00   2.7406 0.0064030 **       
                time2019       7.4383e+00  7.4839e+00   0.9939 0.3208561          
                iis312        -2.6406e+02  3.3588e+01  -7.8620 3.408e-14 ***      
                iis314         1.5215e+02  3.2416e+01   4.6939 3.666e-06 ***      
                iis316        -1.0116e+02  3.0366e+01  -3.3314 0.0009429 ***      
                iis339         2.4135e+02  2.5550e+01   9.4464 < 2.2e-16 ***      
                iis462        -2.8505e+02  3.5959e+01  -7.9271 2.167e-14 ***      
                iis463        -2.4326e+02  3.1186e+01  -7.8003 5.220e-14 ***      
                fesisCHN.2019 -4.5264e+02  3.3439e+01 -13.5362 < 2.2e-16 ***      
                fesisDEU.2012 -2.0654e+02  2.5445e+01  -8.1168 5.704e-15 ***      
                fesisJPN.2008  5.3763e+02  2.6297e+01  20.4447 < 2.2e-16 ***      
                fesisKOR.2007  1.5482e+02  2.9310e+01   5.2822 2.082e-07 ***      
                fesisUSA.2006  3.8729e+02  5.6343e+01   6.8738 2.351e-11 ***      
                fesisUSA.2011 -1.6928e+02  2.4987e+01  -6.7745 4.374e-11 ***      
                tisCHN.2008    1.3412e+01  2.5190e+00   5.3246 1.675e-07 ***      
                tisCHN.2015    6.8419e+01  8.0173e+00   8.5339 2.814e-16 ***      
                tisDEU.2007    1.1099e+02  9.7318e+00  11.4045 < 2.2e-16 ***      
                tisDEU.2009   -1.1607e+02  1.1655e+01  -9.9589 < 2.2e-16 ***      
                tisJPN.2011   -1.7553e+02  1.6356e+01 -10.7324 < 2.2e-16 ***      
                tisJPN.2013    1.3793e+02  2.0222e+01   6.8208 3.278e-11 ***      
                tisKOR.2010   -2.6218e+01  5.5816e+00  -4.6972 3.610e-06 ***      
                tisUSA.2005    9.8474e+01  2.6615e+01   3.6999 0.0002452 ***      
                tisUSA.2007   -1.2857e+02  2.6924e+01  -4.7752 2.507e-06 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                   Chi-sq df   p-value          
                Ljung-Box AR(1)    1.5882  1    0.2076          
                Ljung-Box ARCH(1) 33.2696  1 8.023e-09 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                  
                SE of regression    23.29203      
                R-squared            0.99278      
                Log-lik.(n=475)  -2135.84863      
0.01

                Formula: count_solar~ gdp + pop      
                top_25 (2000:2019); p.value: 0.01; AR: 1      
                      
                Date: Tue Mar 26 17:01:20 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                     coef   std.error   t-stat   p-value          
                ar1            8.0469e-01  1.8284e-02  44.0109 < 2.2e-16 ***      
                gdp            1.8087e-13  9.7117e-14   1.8624 0.0632762 .        
                pop           -4.2794e-08  6.4883e-08  -0.6596 0.5099160          
                idAUT         -3.8185e+00  7.3508e+00  -0.5195 0.6037203          
                idBEL         -5.3871e+00  7.3389e+00  -0.7340 0.4633484          
                idBRA         -1.1392e+00  1.3345e+01  -0.0854 0.9320180          
                idCAN          6.5567e-01  7.3348e+00   0.0894 0.9288154          
                idCHE         -8.7961e-01  7.3474e+00  -0.1197 0.9047667          
                idCHN          6.4461e+01  8.2538e+01   0.7810 0.4352713          
                idDEU          5.6770e+01  1.1594e+01   4.8966 1.414e-06 ***      
                idDNK         -7.8005e+00  7.4047e+00  -1.0535 0.2927646          
                idESP          1.9735e+00  7.4533e+00   0.2648 0.7913124          
                idFIN         -7.3134e+00  7.3981e+00  -0.9886 0.3234718          
                idFRA          1.7390e+01  7.9001e+00   2.2012 0.0282867 *        
                idGBR          6.7812e+00  7.7763e+00   0.8720 0.3837138          
                idIND          3.3469e+01  7.5690e+01   0.4422 0.6585951          
                idISR          2.7981e-01  7.3514e+00   0.0381 0.9696572          
                idITA          5.8260e+00  7.6929e+00   0.7573 0.4492956          
                idJPN         -1.5337e+01  4.6780e+01  -0.3279 0.7431855          
                idKOR         -1.7717e+02  1.0483e+02  -1.6901 0.0917806 .        
                idNLD         -9.0507e-02  7.3020e+00  -0.0124 0.9901168          
                idNOR         -8.5274e+00  7.4249e+00  -1.1485 0.2514480          
                idRUS         -1.5918e+01  1.0759e+01  -1.4795 0.1397797          
                idSGP         -7.5788e+00  7.3993e+00  -1.0243 0.3063307          
                idSWE         -6.9862e+00  7.3787e+00  -0.9468 0.3443019          
                idTWN          1.9839e+01  7.4455e+00   2.6646 0.0080178 **       
                idUSA          5.8553e+01  2.1251e+01   2.7553 0.0061293 **       
                time2001       2.5764e+00  6.9413e+00   0.3712 0.7107093          
                time2002       8.4716e-03  6.9110e+00   0.0012 0.9990226          
                time2003       5.2545e+00  6.9010e+00   0.7614 0.4468585          
                time2004       7.7301e+00  6.8918e+00   1.1216 0.2626849          
                time2005       9.5420e+00  6.8754e+00   1.3879 0.1659492          
                time2006       1.2511e+01  6.8927e+00   1.8151 0.0702544 .        
                time2007       1.5670e+01  6.9309e+00   2.2609 0.0243009 *        
                time2008       2.5979e+01  7.0991e+00   3.6595 0.0002863 ***      
                time2009       3.3692e+01  7.1497e+00   4.7123 3.377e-06 ***      
                time2010       1.7555e+01  7.3262e+00   2.3961 0.0170243 *        
                time2011       2.0752e+01  7.2640e+00   2.8569 0.0044999 **       
                time2012       4.6862e+00  7.2703e+00   0.6446 0.5195763          
                time2013       3.8273e+00  7.1555e+00   0.5349 0.5930354          
                time2014      -4.1481e+00  7.1213e+00  -0.5825 0.5605669          
                time2015       9.9036e+00  7.0700e+00   1.4008 0.1620442          
                time2016       7.3964e+00  7.1236e+00   1.0383 0.2997540          
                time2017       3.5043e+00  7.1834e+00   0.4878 0.6259388          
                time2018       1.5127e+01  7.1295e+00   2.1217 0.0344733 *        
                time2019      -2.3728e+00  7.2314e+00  -0.3281 0.7429833          
                iis131         1.1015e+02  2.6579e+01   4.1444 4.155e-05 ***      
                iis133        -3.1693e+02  2.7975e+01 -11.3290 < 2.2e-16 ***      
                iis312         1.7627e+02  2.7475e+01   6.4157 3.938e-10 ***      
                iis313         3.4084e+02  3.0345e+01  11.2324 < 2.2e-16 ***      
                iis314         3.7725e+02  3.3527e+01  11.2522 < 2.2e-16 ***      
                iis316        -1.4049e+02  3.0323e+01  -4.6333 4.867e-06 ***      
                iis321        -7.8699e+01  2.5376e+01  -3.1013 0.0020621 **       
                iis339         2.8097e+02  2.5623e+01  10.9654 < 2.2e-16 ***      
                iis464         2.1198e+02  2.6375e+01   8.0371 1.030e-14 ***      
                iis465         9.1692e+01  2.8077e+01   3.2658 0.0011850 **       
                fesisCHN.2015  1.2124e+02  2.3125e+01   5.2429 2.557e-07 ***      
                fesisDEU.2012 -1.4532e+02  3.2322e+01  -4.4961 9.062e-06 ***      
                fesisDEU.2014  1.1780e+02  2.8877e+01   4.0794 5.444e-05 ***      
                fesisJPN.2012 -1.2170e+02  3.2556e+01  -3.7380 0.0002123 ***      
                fesisKOR.2007  1.4073e+02  2.8320e+01   4.9692 9.959e-07 ***      
                fesisUSA.2011 -1.4691e+02  2.7400e+01  -5.3616 1.392e-07 ***      
                tisCHN.2008    8.3119e+00  2.6174e+00   3.1756 0.0016100 **       
                tisDEU.2007    1.0057e+02  1.0683e+01   9.4143 < 2.2e-16 ***      
                tisDEU.2009   -1.4456e+02  1.8574e+01  -7.7825 6.043e-14 ***      
                tisDEU.2013    3.6251e+01  1.1405e+01   3.1785 0.0015948 **       
                tisJPN.2007    4.5225e+01  8.4764e+00   5.3354 1.593e-07 ***      
                tisJPN.2011   -5.8753e+01  1.1380e+01  -5.1628 3.830e-07 ***      
                tisKOR.2010   -3.4825e+01  6.5089e+00  -5.3504 1.475e-07 ***      
                tisKOR.2016    2.5359e+01  9.0126e+00   2.8137 0.0051370 **       
                tisUSA.2005    1.3162e+02  1.0802e+01  12.1845 < 2.2e-16 ***      
                tisUSA.2007   -1.4227e+02  1.2194e+01 -11.6677 < 2.2e-16 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                  Chi-sq df   p-value          
                Ljung-Box AR(1)   27.224  1 1.812e-07 ***      
                Ljung-Box ARCH(1) 61.127  1 5.329e-15 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                  
                SE of regression    22.48286      
                R-squared            0.99335      
                Log-lik.(n=475)  -2116.55357      

Log Count Solar

0.001

                Formula: log_count_solar~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.001; AR: 1      
                      
                Date: Tue Mar 26 17:02:58 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                   coef std.error  t-stat   p-value          
                ar1            0.398701  0.038509 10.3535 < 2.2e-16 ***      
                lgdp           1.353020  0.179744  7.5275 3.148e-13 ***      
                lpop          -1.840551  0.594832 -3.0942 0.0021041 **       
                idAUT          0.032188  0.510853  0.0630 0.9497892          
                idBEL          0.120946  0.383144  0.3157 0.7524116          
                idBRA          1.161366  1.228955  0.9450 0.3451968          
                idCAN          0.539587  0.270605  1.9940 0.0467937 *        
                idCHE         -0.686537  0.561299 -1.2231 0.2219641          
                idCHN          3.867539  2.224651  1.7385 0.0828517 .        
                idDEU          2.811572  0.758838  3.7051 0.0002394 ***      
                idDNK         -3.683211  0.856898 -4.2983 2.138e-05 ***      
                idESP          0.714700  0.505992  1.4125 0.1585455          
                idFIN         -0.780919  0.744818 -1.0485 0.2950207          
                idFRA          2.106704  0.634106  3.3223 0.0009703 ***      
                idGBR          2.027296  0.626669  3.2350 0.0013118 **       
                idIND          1.702343  2.147478  0.7927 0.4283869          
                idISR         -1.387493  0.603983 -2.2972 0.0220928 *        
                idITA          1.858922  0.593570  3.1318 0.0018583 **       
                idJPN         -2.971472  1.038962 -2.8600 0.0044456 **       
                idKOR         -6.417194  1.046749 -6.1306 2.009e-09 ***      
                idNLD          0.606974  0.196191  3.0938 0.0021072 **       
                idNOR         -4.640493  0.973573 -4.7665 2.583e-06 ***      
                idRUS         -2.977049  1.090708 -2.7295 0.0066084 **       
                idSGP         -1.471850  0.801698 -1.8359 0.0670719 .        
                idSWE         -3.409175  0.618021 -5.5163 6.041e-08 ***      
                idTWN          1.218204  0.162329  7.5045 3.674e-13 ***      
                idUSA          3.287994  1.428295  2.3020 0.0218178 *        
                time2001      -5.170926  8.766871 -0.5898 0.5556224          
                time2002      -5.176326  8.769946 -0.5902 0.5553485          
                time2003      -4.987580  8.772810 -0.5685 0.5699789          
                time2004      -5.010837  8.777272 -0.5709 0.5683789          
                time2005      -4.839550  8.780878 -0.5511 0.5818242          
                time2006      -4.700902  8.786330 -0.5350 0.5929140          
                time2007      -4.447890  8.788561 -0.5061 0.6130502          
                time2008      -4.254320  8.792594 -0.4839 0.6287408          
                time2009      -4.085083  8.796126 -0.4644 0.6425869          
                time2010      -4.219362  8.799409 -0.4795 0.6318271          
                time2011      -4.262326  8.802923 -0.4842 0.6284985          
                time2012      -4.302948  8.806869 -0.4886 0.6253852          
                time2013      -4.559931  8.810808 -0.5175 0.6050509          
                time2014      -4.560714  8.814943 -0.5174 0.6051583          
                time2015      -4.654326  8.818818 -0.5278 0.5979343          
                time2016      -4.613773  8.822880 -0.5229 0.6012948          
                time2017      -4.662258  8.826173 -0.5282 0.5976160          
                time2018      -4.735557  8.829365 -0.5363 0.5920043          
                time2019      -4.909931  8.832473 -0.5559 0.5785763          
                iis325        -1.322652  0.352605 -3.7511 0.0002006 ***      
                iis405        -1.881448  0.354605 -5.3058 1.814e-07 ***      
                fesisBRA.2014  0.801756  0.171217  4.6827 3.820e-06 ***      
                fesisESP.2003  1.163528  0.257955  4.5106 8.386e-06 ***      
                fesisRUS.2002  1.494177  0.417930  3.5752 0.0003904 ***      
                fesisRUS.2004 -1.410778  0.264313 -5.3375 1.540e-07 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                   Chi-sq df  p-value          
                Ljung-Box AR(1)    2.9774  1  0.08444 .        
                Ljung-Box ARCH(1) 17.1032  1 3.54e-05 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                 
                SE of regression    0.33394      
                R-squared           0.96041      
                Log-lik.(n=475)  -127.02371      
0.01

                Formula: log_count_solar~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.01; AR: 1      
                      
                Date: Tue Mar 26 17:04:32 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                    coef  std.error  t-stat   p-value          
                ar1             0.312381   0.038669  8.0784 7.254e-15 ***      
                lgdp            1.458843   0.160058  9.1145 < 2.2e-16 ***      
                lpop           -1.352996   0.540665 -2.5025 0.0127178 *        
                idAUT           0.132821   0.465516  0.2853 0.7755415          
                idBEL           0.063618   0.354740  0.1793 0.8577598          
                idBRA          -0.647412   1.181349 -0.5480 0.5839680          
                idCAN          -0.185285   0.308754 -0.6001 0.5487642          
                idCHE          -0.574242   0.507013 -1.1326 0.2580380          
                idCHN           1.114094   2.086113  0.5341 0.5935918          
                idDEU           1.795525   0.726772  2.4705 0.0138926 *        
                idDNK          -3.530133   0.758225 -4.6558 4.354e-06 ***      
                idESP          -0.146413   0.499238 -0.2933 0.7694602          
                idFIN          -0.509943   0.671687 -0.7592 0.4481667          
                idFRA           1.129041   0.619312  1.8231 0.0690156 .        
                idGBR           1.057841   0.612349  1.7275 0.0848212 .        
                idIND          -1.227427   2.032574 -0.6039 0.5462553          
                idISR          -1.327227   0.540856 -2.4539 0.0145412 *        
                idITA           0.904339   0.583823  1.5490 0.1221469          
                idJPN          -4.685705   1.007439 -4.6511 4.448e-06 ***      
                idKOR          -8.263663   0.990297 -8.3446 1.077e-15 ***      
                idNLD           0.341156   0.210510  1.6206 0.1058615          
                idNOR          -4.549262   0.858284 -5.3004 1.883e-07 ***      
                idRUS          -4.785925   1.000190 -4.7850 2.383e-06 ***      
                idSGP          -1.204547   0.719477 -1.6742 0.0948470 .        
                idSWE          -3.665945   0.546676 -6.7059 6.583e-11 ***      
                idTWN           0.224732   0.234590  0.9580 0.3386332          
                idUSA           1.497047   1.345387  1.1127 0.2664717          
                time2001      -15.640565   8.189435 -1.9098 0.0568438 .        
                time2002      -15.601465   8.190948 -1.9047 0.0575092 .        
                time2003      -15.447646   8.193064 -1.8855 0.0600685 .        
                time2004      -15.411509   8.194928 -1.8806 0.0607260 .        
                time2005      -15.262780   8.196822 -1.8620 0.0633063 .        
                time2006      -15.150008   8.202301 -1.8470 0.0654542 .        
                time2007      -14.884802   8.203517 -1.8144 0.0703334 .        
                time2008      -14.660524   8.205063 -1.7868 0.0747070 .        
                time2009      -14.462412   8.206258 -1.7624 0.0787457 .        
                time2010      -14.543607   8.208123 -1.7719 0.0771540 .        
                time2011      -14.632739   8.211668 -1.7819 0.0754911 .        
                time2012      -14.637647   8.215698 -1.7817 0.0755363 .        
                time2013      -14.948855   8.219530 -1.8187 0.0696796 .        
                time2014      -14.979992   8.225094 -1.8213 0.0692897 .        
                time2015      -15.085883   8.229158 -1.8332 0.0674872 .        
                time2016      -15.015996   8.234168 -1.8236 0.0689303 .        
                time2017      -15.117117   8.236882 -1.8353 0.0671790 .        
                time2018      -15.199086   8.240143 -1.8445 0.0658220 .        
                time2019      -15.348787   8.244768 -1.8616 0.0633623 .        
                iis67          -0.989649   0.318235 -3.1098 0.0020015 **       
                iis156         -1.154071   0.315031 -3.6634 0.0002812 ***      
                iis164         -1.090977   0.314603 -3.4678 0.0005797 ***      
                iis187         -1.149016   0.315454 -3.6424 0.0003044 ***      
                iis325         -1.054703   0.336171 -3.1374 0.0018264 **       
                iis363         -1.157198   0.315657 -3.6660 0.0002784 ***      
                iis382          1.411411   0.320317  4.4063 1.341e-05 ***      
                iis383          1.250861   0.321435  3.8915 0.0001161 ***      
                iis405         -1.747999   0.318919 -5.4810 7.363e-08 ***      
                fesisAUS.2005  -0.608838   0.179486 -3.3921 0.0007602 ***      
                fesisBRA.2014   0.795849   0.156252  5.0934 5.354e-07 ***      
                fesisESP.2003   1.283113   0.232685  5.5144 6.173e-08 ***      
                fesisRUS.2019  -0.909092   0.317121 -2.8667 0.0043594 **       
                fesisTWN.2006   0.794330   0.170100  4.6698 4.081e-06 ***      
                tisKOR.2003     0.047380   0.014920  3.1757 0.0016065 **       
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                   Chi-sq df p-value        
                Ljung-Box AR(1)   0.61145  1 0.43424        
                Ljung-Box ARCH(1) 5.78380  1 0.01617 *      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                
                SE of regression   0.29943      
                R-squared          0.96885      
                Log-lik.(n=475)  -70.70645      

Ihs Count Solar

0.001

                Formula: ihs_count_solar~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.001; AR: 1      
                      
                Date: Tue Mar 26 17:06:25 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                   coef std.error  t-stat   p-value          
                ar1            0.359627  0.038279  9.3949 < 2.2e-16 ***      
                lgdp           1.582121  0.192875  8.2028 2.863e-15 ***      
                lpop          -1.974511  0.641545 -3.0777 0.0022218 **       
                idAUT          0.227480  0.556065  0.4091 0.6826824          
                idBEL          0.295350  0.417385  0.7076 0.4795718          
                idBRA          0.879601  1.333818  0.6595 0.5099597          
                idCAN          0.553550  0.293001  1.8892 0.0595446 .        
                idCHE         -0.614563  0.608995 -1.0091 0.3134847          
                idCHN          3.701105  2.410459  1.5354 0.1254263          
                idDEU          2.945242  0.816463  3.6073 0.0003464 ***      
                idDNK         -3.959734  0.921535 -4.2969 2.152e-05 ***      
                idESP          0.687705  0.546184  1.2591 0.2086874          
                idFIN         -0.645952  0.808358 -0.7991 0.4246874          
                idFRA          2.223650  0.683628  3.2527 0.0012349 **       
                idGBR          2.163178  0.675609  3.2018 0.0014690 **       
                idIND          1.282423  2.332706  0.5498 0.5827766          
                idISR         -1.438526  0.652884 -2.2033 0.0281103 *        
                idITA          1.983971  0.640201  3.0990 0.0020718 **       
                idJPN         -3.939030  1.136217 -3.4668 0.0005807 ***      
                idKOR         -7.852038  1.135329 -6.9161 1.728e-11 ***      
                idNLD          0.761970  0.214122  3.5586 0.0004152 ***      
                idNOR         -5.060908  1.044341 -4.8460 1.773e-06 ***      
                idRUS         -4.019859  1.192178 -3.3719 0.0008155 ***      
                idSGP         -1.449361  0.868159 -1.6695 0.0957669 .        
                idSWE         -3.804894  0.661543 -5.7515 1.700e-08 ***      
                idTWN          1.364995  0.173753  7.8559 3.325e-14 ***      
                idUSA          3.221329  1.544555  2.0856 0.0376148 *        
                time2001      -8.848104  9.554214 -0.9261 0.3549262          
                time2002      -8.839896  9.558507 -0.9248 0.3555882          
                time2003      -8.620278  9.560441 -0.9017 0.3677512          
                time2004      -8.597006  9.564373 -0.8989 0.3692413          
                time2005      -8.463857  9.568681 -0.8845 0.3769098          
                time2006      -8.317260  9.574412 -0.8687 0.3855068          
                time2007      -8.038042  9.576681 -0.8393 0.4017566          
                time2008      -7.826746  9.580433 -0.8170 0.4144173          
                time2009      -7.629635  9.583699 -0.7961 0.4264184          
                time2010      -7.777981  9.587030 -0.8113 0.4176493          
                time2011      -7.814980  9.590932 -0.8148 0.4156291          
                time2012      -7.856431  9.595228 -0.8188 0.4133711          
                time2013      -8.133788  9.599563 -0.8473 0.3973037          
                time2014      -8.150629  9.604513 -0.8486 0.3965711          
                time2015      -8.256115  9.608810 -0.8592 0.3907051          
                time2016      -8.215976  9.613397 -0.8546 0.3932364          
                time2017      -8.275362  9.617006 -0.8605 0.3900062          
                time2018      -8.353745  9.620558 -0.8683 0.3857115          
                time2019      -8.543627  9.624044 -0.8877 0.3751875          
                iis156        -1.469380  0.381086 -3.8558 0.0001333 ***      
                iis363        -1.595195  0.381734 -4.1788 3.564e-05 ***      
                iis405        -2.349127  0.385685 -6.0908 2.531e-09 ***      
                fesisBRA.2014  1.049074  0.187546  5.5937 4.003e-08 ***      
                fesisESP.2003  1.371226  0.280053  4.8963 1.393e-06 ***      
                fesisRUS.2002  1.951239  0.454190  4.2961 2.160e-05 ***      
                fesisRUS.2004 -1.609336  0.286117 -5.6247 3.387e-08 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                    Chi-sq df  p-value          
                Ljung-Box AR(1)    0.38827  1   0.5332          
                Ljung-Box ARCH(1) 19.74925  1 8.83e-06 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                 
                SE of regression    0.36288      
                R-squared           0.95822      
                Log-lik.(n=475)  -165.99989      
0.01

                Formula: ihs_count_solar~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.01; AR: 1      
                      
                Date: Tue Mar 26 17:06:25 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                    coef  std.error  t-stat   p-value          
                ar1             0.238273   0.037450  6.3625 5.300e-10 ***      
                lgdp            1.800218   0.168397 10.6903 < 2.2e-16 ***      
                lpop           -0.887766   0.632287 -1.4041 0.1610575          
                idAUT           0.938374   0.563596  1.6650 0.0966796 .        
                idBEL           0.668223   0.424694  1.5734 0.1163900          
                idBRA          -2.599006   1.405347 -1.8494 0.0651222 .        
                idCAN          -0.573978   0.356482 -1.6101 0.1081402          
                idCHE           0.100512   0.604313  0.1663 0.8679837          
                idCHN          -1.971652   2.522537 -0.7816 0.4348910          
                idDEU           1.029173   0.861598  1.1945 0.2329738          
                idDNK          -3.247654   0.868626 -3.7388 0.0002111 ***      
                idESP          -0.728188   0.561125 -1.2977 0.1951084          
                idFIN           0.196750   0.812862  0.2420 0.8088654          
                idFRA           0.475364   0.729229  0.6519 0.5148477          
                idGBR           0.450332   0.717181  0.6279 0.5304060          
                idIND          -4.708030   2.473606 -1.9033 0.0576989 .        
                idISR          -0.820380   0.633802 -1.2944 0.1962611          
                idITA           0.318345   0.682611  0.4664 0.6412026          
                idJPN          -7.374432   1.241389 -5.9405 6.062e-09 ***      
                idKOR         -10.987921   1.112277 -9.8788 < 2.2e-16 ***      
                idNLD           0.638235   0.232279  2.7477 0.0062655 **       
                idNOR          -4.399337   0.974231 -4.5157 8.256e-06 ***      
                idRUS          -7.323284   1.231584 -5.9462 5.868e-09 ***      
                idSGP          -1.206106   0.961401 -1.2545 0.2103629          
                idSWE          -3.816673   0.601477 -6.3455 5.862e-10 ***      
                idTWN           0.194654   0.246811  0.7887 0.4307569          
                idUSA          -0.437310   1.629861 -0.2683 0.7885945          
                time2001      -32.226623  10.128015 -3.1819 0.0015741 **       
                time2002      -32.191880  10.131861 -3.1773 0.0015988 **       
                time2003      -32.036114  10.132329 -3.1618 0.0016844 **       
                time2004      -31.986353  10.134745 -3.1561 0.0017166 **       
                time2005      -31.829303  10.137014 -3.1399 0.0018120 **       
                time2006      -31.698882  10.142314 -3.1254 0.0019016 **       
                time2007      -31.420655  10.145613 -3.0970 0.0020891 **       
                time2008      -31.163321  10.147773 -3.0710 0.0022755 **       
                time2009      -30.922777  10.149184 -3.0468 0.0024619 **       
                time2010      -31.009653  10.151846 -3.0546 0.0024005 **       
                time2011      -31.103822  10.156155 -3.0626 0.0023388 **       
                time2012      -31.139319  10.161690 -3.0644 0.0023249 **       
                time2013      -31.479404  10.165967 -3.0965 0.0020921 **       
                time2014      -31.545308  10.172082 -3.1012 0.0020604 **       
                time2015      -31.669440  10.176680 -3.1120 0.0019882 **       
                time2016      -31.655273  10.181790 -3.1090 0.0020078 **       
                time2017      -31.725410  10.185580 -3.1147 0.0019701 **       
                time2018      -31.818056  10.189374 -3.1227 0.0019189 **       
                time2019      -31.986080  10.194555 -3.1376 0.0018262 **       
                iis67          -1.108390   0.331740 -3.3411 0.0009107 ***      
                iis156         -1.519066   0.328252 -4.6277 4.963e-06 ***      
                iis164         -1.167204   0.327806 -3.5607 0.0004132 ***      
                iis249          0.976152   0.334417  2.9190 0.0037050 **       
                iis325         -1.068254   0.350766 -3.0455 0.0024726 **       
                iis363         -1.600056   0.329453 -4.8567 1.700e-06 ***      
                iis382          1.544311   0.335181  4.6074 5.448e-06 ***      
                iis383          1.428748   0.334847  4.2669 2.463e-05 ***      
                iis405         -2.502711   0.343179 -7.2927 1.574e-12 ***      
                fesisAUS.2005  -0.757773   0.189725 -3.9941 7.695e-05 ***      
                fesisBRA.2014   1.104612   0.165565  6.6718 8.189e-11 ***      
                fesisESP.2003   1.464091   0.242386  6.0403 3.446e-09 ***      
                fesisFIN.2012   0.720794   0.153065  4.7091 3.409e-06 ***      
                fesisRUS.2019  -0.989851   0.330817 -2.9921 0.0029372 **       
                fesisSGP.2003   1.517473   0.288695  5.2563 2.367e-07 ***      
                fesisTWN.2006   0.934533   0.176818  5.2853 2.042e-07 ***      
                tisKOR.2003     0.054186   0.015444  3.5086 0.0005002 ***      
                tisSGP.2002    -0.048821   0.018520 -2.6361 0.0087050 **       
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                   Chi-sq df   p-value          
                Ljung-Box AR(1)    1.3284  1 0.2490840          
                Ljung-Box ARCH(1) 11.0955  1 0.0008654 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                
                SE of regression   0.31196      
                R-squared          0.96993      
                Log-lik.(n=475)  -88.67188      

Max Count Solar

0.001

                Formula: max_count_solar~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.001; AR: 1      
                      
                Date: Tue Mar 26 17:09:20 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                    coef  std.error   t-stat   p-value          
                ar1            0.5986773  0.0223300  26.8105 < 2.2e-16 ***      
                lgdp           0.0369034  0.0081368   4.5353 7.561e-06 ***      
                lpop          -0.0830983  0.0282177  -2.9449 0.0034146 **       
                idAUT         -0.0257071  0.0238842  -1.0763 0.2824144          
                idBEL         -0.0122753  0.0178493  -0.6877 0.4920195          
                idBRA          0.1412495  0.0587115   2.4058 0.0165779 *        
                idCAN          0.0317092  0.0127165   2.4936 0.0130404 *        
                idCHE         -0.0501582  0.0264204  -1.8985 0.0583368 .        
                idCHN          0.2576851  0.1056964   2.4380 0.0151937 *        
                idDEU          0.1414638  0.0373513   3.7874 0.0001750 ***      
                idDNK         -0.1304443  0.0400311  -3.2586 0.0012130 **       
                idESP          0.0759478  0.0227340   3.3407 0.0009122 ***      
                idFIN         -0.0509078  0.0349136  -1.4581 0.1455761          
                idFRA          0.0977005  0.0299454   3.2626 0.0011963 **       
                idGBR          0.0894904  0.0295867   3.0247 0.0026455 **       
                idIND          0.1854673  0.1013700   1.8296 0.0680348 .        
                idISR         -0.0698334  0.0284849  -2.4516 0.0146390 *        
                idITA          0.0850684  0.0280757   3.0300 0.0026007 **       
                idJPN          0.0163000  0.0499567   0.3263 0.7443764          
                idKOR         -0.1634292  0.0474679  -3.4429 0.0006346 ***      
                idNLD          0.0087618  0.0088718   0.9876 0.3239298          
                idNOR         -0.1561414  0.0453497  -3.4430 0.0006344 ***      
                idRUS          0.0047185  0.0461418   0.1023 0.9185991          
                idSGP         -0.0738296  0.0377123  -1.9577 0.0509427 .        
                idSWE         -0.1100119  0.0286107  -3.8451 0.0001396 ***      
                idTWN          0.0461709  0.0072030   6.4100 4.006e-10 ***      
                idUSA          0.1860158  0.0675243   2.7548 0.0061344 **       
                time2001       0.3711042  0.4099483   0.9052 0.3658665          
                time2002       0.3698524  0.4101174   0.9018 0.3676815          
                time2003       0.3729146  0.4102564   0.9090 0.3638950          
                time2004       0.3745230  0.4104219   0.9125 0.3620251          
                time2005       0.3769698  0.4105928   0.9181 0.3591005          
                time2006       0.3782220  0.4107828   0.9207 0.3577304          
                time2007       0.3795649  0.4110237   0.9235 0.3563094          
                time2008       0.3867788  0.4113098   0.9404 0.3475872          
                time2009       0.3956472  0.4115925   0.9613 0.3369883          
                time2010       0.3885015  0.4118482   0.9433 0.3460767          
                time2011       0.3897670  0.4120350   0.9460 0.3447281          
                time2012       0.3802786  0.4122482   0.9225 0.3568361          
                time2013       0.3794132  0.4124096   0.9200 0.3581184          
                time2014       0.3745694  0.4125812   0.9079 0.3644811          
                time2015       0.3813004  0.4127516   0.9238 0.3561332          
                time2016       0.3792074  0.4129576   0.9183 0.3590164          
                time2017       0.3755772  0.4131362   0.9091 0.3638377          
                time2018       0.3793407  0.4132952   0.9178 0.3592399          
                time2019       0.3712153  0.4134461   0.8979 0.3697890          
                iis133        -0.2980657  0.0204623 -14.5666 < 2.2e-16 ***      
                iis312        -0.1099947  0.0264755  -4.1546 3.968e-05 ***      
                iis339         0.1473067  0.0159723   9.2227 < 2.2e-16 ***      
                iis462        -0.1974944  0.0228251  -8.6525 < 2.2e-16 ***      
                iis463        -0.1629656  0.0196048  -8.3125 1.391e-15 ***      
                fesisDEU.2012 -0.1320430  0.0158942  -8.3076 1.442e-15 ***      
                fesisJPN.2008  0.1638923  0.0442297   3.7055 0.0002399 ***      
                fesisUSA.2006  0.2629834  0.0354609   7.4161 6.987e-13 ***      
                fesisUSA.2011 -0.1015410  0.0156420  -6.4915 2.458e-10 ***      
                tisCHN.2015    0.0604863  0.0038672  15.6407 < 2.2e-16 ***      
                tisDEU.2007    0.0728299  0.0061509  11.8406 < 2.2e-16 ***      
                tisDEU.2009   -0.0768857  0.0073532 -10.4560 < 2.2e-16 ***      
                tisJPN.2007    0.0671500  0.0129320   5.1926 3.273e-07 ***      
                tisJPN.2011   -0.2266485  0.0171894 -13.1854 < 2.2e-16 ***      
                tisJPN.2013    0.1406943  0.0100314  14.0254 < 2.2e-16 ***      
                tisKOR.2007    0.0860887  0.0056694  15.1849 < 2.2e-16 ***      
                tisKOR.2009   -0.0943781  0.0063197 -14.9339 < 2.2e-16 ***      
                tisUSA.2005    0.0617753  0.0166195   3.7170 0.0002296 ***      
                tisUSA.2007   -0.0821793  0.0168175  -4.8865 1.475e-06 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                    Chi-sq df   p-value          
                Ljung-Box AR(1)    0.40607  1     0.524          
                Ljung-Box ARCH(1) 41.73911  1 1.043e-10 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                 
                SE of regression    0.01455      
                R-squared           0.99278      
                Log-lik.(n=475)  1367.84264      
0.01

                Formula: max_count_solar~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.01; AR: 1      
                      
                Date: Tue Mar 26 17:09:20 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                    coef  std.error   t-stat   p-value          
                ar1            0.7991460  0.0173549  46.0473 < 2.2e-16 ***      
                lgdp           0.0189736  0.0073738   2.5731 0.0104386 *        
                lpop          -0.0374433  0.0252439  -1.4833 0.1387925          
                idAUT         -0.0080600  0.0212565  -0.3792 0.7047579          
                idBEL         -0.0027264  0.0158844  -0.1716 0.8638072          
                idBRA          0.0611391  0.0524666   1.1653 0.2445936          
                idCAN          0.0140183  0.0113569   1.2343 0.2177984          
                idCHE         -0.0204754  0.0235520  -0.8694 0.3851658          
                idCHN          0.1147154  0.0943148   1.2163 0.2245870          
                idDEU          0.0741720  0.0332955   2.2277 0.0264567 *        
                idDNK         -0.0598535  0.0358100  -1.6714 0.0954215 .        
                idESP          0.0354315  0.0203764   1.7388 0.0828306 .        
                idFIN         -0.0185827  0.0310747  -0.5980 0.5501782          
                idFRA          0.0453185  0.0267226   1.6959 0.0906847 .        
                idGBR          0.0404666  0.0264403   1.5305 0.1266852          
                idIND          0.0742397  0.0903669   0.8215 0.4118306          
                idISR         -0.0298526  0.0254321  -1.1738 0.2411667          
                idITA          0.0385525  0.0250954   1.5362 0.1252708          
                idJPN          0.0016992  0.0445633   0.0381 0.9696025          
                idKOR         -0.0839416  0.0428435  -1.9593 0.0507764 .        
                idNLD          0.0062703  0.0079146   0.7922 0.4286901          
                idNOR         -0.0723663  0.0406073  -1.7821 0.0754912 .        
                idRUS         -0.0076031  0.0410874  -0.1850 0.8532850          
                idSGP         -0.0301122  0.0335913  -0.8964 0.3705631          
                idSWE         -0.0521032  0.0256663  -2.0300 0.0430158 *        
                idTWN          0.0243817  0.0064111   3.8031 0.0001652 ***      
                idUSA          0.0857060  0.0600667   1.4268 0.1544044          
                time2001       0.1014571  0.3649482   0.2780 0.7811529          
                time2002       0.1000030  0.3650978   0.2739 0.7842970          
                time2003       0.1032423  0.3652214   0.2827 0.7775652          
                time2004       0.1045965  0.3653665   0.2863 0.7748132          
                time2005       0.1055798  0.3655099   0.2889 0.7728411          
                time2006       0.1072934  0.3656674   0.2934 0.7693548          
                time2007       0.1100701  0.3658889   0.3008 0.7637010          
                time2008       0.1142591  0.3661662   0.3120 0.7551715          
                time2009       0.1204262  0.3664045   0.3287 0.7425770          
                time2010       0.1100366  0.3666194   0.3001 0.7642274          
                time2011       0.1115223  0.3667756   0.3041 0.7612391          
                time2012       0.1040444  0.3669614   0.2835 0.7769175          
                time2013       0.1031700  0.3671179   0.2810 0.7788350          
                time2014       0.0977482  0.3672781   0.2661 0.7902668          
                time2015       0.1067018  0.3674470   0.2904 0.7716708          
                time2016       0.1032764  0.3676254   0.2809 0.7789107          
                time2017       0.1030662  0.3677682   0.2802 0.7794324          
                time2018       0.1052055  0.3679051   0.2860 0.7750580          
                time2019       0.0979405  0.3680426   0.2661 0.7902902          
                iis130         0.0522271  0.0187391   2.7871 0.0055723 **       
                iis131         0.1144837  0.0189487   6.0418 3.491e-09 ***      
                iis132         0.0824370  0.0194930   4.2291 2.911e-05 ***      
                iis133        -0.1409012  0.0199725  -7.0548 7.662e-12 ***      
                iis312         0.1111929  0.0158268   7.0256 9.229e-12 ***      
                iis313         0.2100598  0.0175275  11.9846 < 2.2e-16 ***      
                iis314         0.2346339  0.0193497  12.1260 < 2.2e-16 ***      
                iis316        -0.0872872  0.0174866  -4.9917 8.951e-07 ***      
                iis321        -0.0508787  0.0146339  -3.4768 0.0005632 ***      
                iis340        -0.1564719  0.0159692  -9.7983 < 2.2e-16 ***      
                iis464         0.1345923  0.0152019   8.8536 < 2.2e-16 ***      
                iis465         0.0600573  0.0162419   3.6977 0.0002479 ***      
                fesisCHN.2015  0.0618896  0.0142951   4.3294 1.892e-05 ***      
                fesisDEU.2012 -0.0943098  0.0186441  -5.0584 6.453e-07 ***      
                fesisDEU.2014  0.0727757  0.0166607   4.3681 1.599e-05 ***      
                fesisJPN.2012 -0.0796846  0.0187712  -4.2450 2.720e-05 ***      
                fesisKOR.2012 -0.0647557  0.0190695  -3.3958 0.0007528 ***      
                fesisKOR.2016  0.2390779  0.0203125  11.7700 < 2.2e-16 ***      
                fesisUSA.2011 -0.0907371  0.0158297  -5.7321 1.956e-08 ***      
                tisDEU.2007    0.0634378  0.0061781  10.2682 < 2.2e-16 ***      
                tisDEU.2009   -0.0909005  0.0107092  -8.4881 4.149e-16 ***      
                tisDEU.2013    0.0228246  0.0065712   3.4734 0.0005700 ***      
                tisJPN.2007    0.0298372  0.0049566   6.0196 3.957e-09 ***      
                tisJPN.2011   -0.0378478  0.0066237  -5.7140 2.158e-08 ***      
                tisKOR.2007    0.0656230  0.0054586  12.0219 < 2.2e-16 ***      
                tisKOR.2009   -0.0708921  0.0083370  -8.5033 3.711e-16 ***      
                tisKOR.2016   -0.0619719  0.0073679  -8.4110 7.261e-16 ***      
                tisUSA.2005    0.0832929  0.0062776  13.2683 < 2.2e-16 ***      
                tisUSA.2007   -0.0900628  0.0070901 -12.7027 < 2.2e-16 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                  Chi-sq df   p-value          
                Ljung-Box AR(1)   19.228  1 1.160e-05 ***      
                Ljung-Box ARCH(1) 61.024  1 5.662e-15 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                 
                SE of regression    0.01295      
                R-squared           0.99441      
                Log-lik.(n=475)  1428.08985      

Wind

Count Wind

0.001

                Formula: count_wind~ gdp + pop      
                top_25 (2000:2019); p.value: 0.001; AR: 1      
                      
                Date: Tue Mar 26 16:59:47 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                     coef   std.error   t-stat   p-value          
                ar1            7.1604e-01  2.1076e-02  33.9733 < 2.2e-16 ***      
                gdp            2.2114e-15  9.3010e-15   0.2378 0.8121860          
                pop            6.0825e-08  2.5907e-08   2.3478 0.0193543 *        
                idAUT          1.0865e+00  3.5196e+00   0.3087 0.7577139          
                idBEL          1.1487e-01  3.5137e+00   0.0327 0.9739364          
                idBRA         -1.2185e+01  5.7159e+00  -2.1318 0.0336112 *        
                idCAN          2.1159e+00  3.5198e+00   0.6011 0.5480718          
                idCHE          3.2141e-01  3.5208e+00   0.0913 0.9273083          
                idCHN         -6.1342e+01  3.4218e+01  -1.7927 0.0737513 .        
                idDEU          4.4213e+01  5.2582e+00   8.4083 6.783e-16 ***      
                idDNK          1.5302e+01  5.1613e+00   2.9648 0.0032037 **       
                idESP          9.2524e+00  3.6104e+00   2.5627 0.0107388 *        
                idFIN         -1.3256e-01  3.5280e+00  -0.0376 0.9700463          
                idFRA          1.9965e+00  3.6742e+00   0.5434 0.5871583          
                idGBR          1.2122e+01  3.7421e+00   3.2393 0.0012950 **       
                idIND         -7.1273e+01  3.1644e+01  -2.2523 0.0248261 *        
                idISR          2.4472e-02  3.5213e+00   0.0069 0.9944583          
                idITA          7.3972e-01  3.6295e+00   0.2038 0.8386070          
                idJPN          1.6370e+01  6.4941e+00   2.5208 0.0120828 *        
                idKOR          5.5594e+00  1.3534e+01   0.4108 0.6814399          
                idNLD          4.6113e+00  3.5163e+00   1.3114 0.1904408          
                idNOR          1.9339e+00  3.5306e+00   0.5478 0.5841548          
                idRUS         -8.1573e+00  4.7478e+00  -1.7181 0.0865201 .        
                idSGP          1.5087e+00  3.5309e+00   0.4273 0.6693969          
                idSWE          7.7279e-01  3.5179e+00   0.2197 0.8262327          
                idTWN          1.4138e+00  3.5028e+00   0.4036 0.6866910          
                idUSA          5.0630e+00  8.5798e+00   0.5901 0.5554390          
                time2001      -2.6321e+00  3.2902e+00  -0.8000 0.4241756          
                time2002      -3.8981e+00  3.2858e+00  -1.1864 0.2361611          
                time2003      -2.8680e+00  3.2867e+00  -0.8726 0.3833879          
                time2004      -3.2738e+00  3.2863e+00  -0.9962 0.3197345          
                time2005      -2.2811e+00  3.2880e+00  -0.6938 0.4882235          
                time2006       3.6260e+00  3.2890e+00   1.1025 0.2708924          
                time2007       3.0715e+00  3.3202e+00   0.9251 0.3554494          
                time2008       1.0044e+01  3.3222e+00   3.0233 0.0026559 **       
                time2009       1.0073e+01  3.3403e+00   3.0156 0.0027227 **       
                time2010       7.9884e+00  3.3919e+00   2.3552 0.0189808 *        
                time2011       6.1863e+00  3.4027e+00   1.8181 0.0697755 .        
                time2012       7.4420e-01  3.3971e+00   0.2191 0.8267031          
                time2013      -2.7445e+00  3.3861e+00  -0.8105 0.4181117          
                time2014      -2.5685e-01  3.3456e+00  -0.0768 0.9388426          
                time2015      -1.5331e+00  3.3511e+00  -0.4575 0.6475544          
                time2016       8.3874e-01  3.3748e+00   0.2485 0.8038477          
                time2017       1.4977e+00  3.3931e+00   0.4414 0.6591583          
                time2018      -7.2930e-01  3.3813e+00  -0.2157 0.8293391          
                time2019      -2.7862e+00  3.4076e+00  -0.8176 0.4140430          
                iis162         4.1301e+01  1.2375e+01   3.3374 0.0009221 ***      
                iis463         1.1146e+02  1.1474e+01   9.7141 < 2.2e-16 ***      
                iis464         8.8399e+01  1.1497e+01   7.6886 1.093e-13 ***      
                iis465         1.5262e+02  1.1653e+01  13.0968 < 2.2e-16 ***      
                iis466         8.2730e+01  1.2306e+01   6.7230 5.921e-11 ***      
                iis469         8.2415e+01  1.1556e+01   7.1320 4.444e-12 ***      
                iis473         7.5056e+01  1.1439e+01   6.5614 1.595e-10 ***      
                fesisDEU.2010  1.7192e+02  1.3862e+01  12.4024 < 2.2e-16 ***      
                fesisDNK.2007  6.8680e+01  7.6274e+00   9.0043 < 2.2e-16 ***      
                fesisDNK.2012 -8.7053e+01  1.0218e+01  -8.5197 3.005e-16 ***      
                tisDEU.2010   -5.6956e+01  4.5393e+00 -12.5472 < 2.2e-16 ***      
                tisDEU.2014    9.3155e+01  7.8652e+00  11.8439 < 2.2e-16 ***      
                tisDEU.2017   -5.7870e+01  7.9470e+00  -7.2820 1.671e-12 ***      
                tisDNK.2013    2.2367e+01  3.2823e+00   6.8145 3.352e-11 ***      
                tisDNK.2017   -3.5279e+01  6.9362e+00  -5.0862 5.549e-07 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                   Chi-sq df   p-value          
                Ljung-Box AR(1)    1.5632  1    0.2112          
                Ljung-Box ARCH(1) 22.4202  1 2.191e-06 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                  
                SE of regression    10.79338      
                R-squared            0.97691      
                Log-lik.(n=475)  -1773.48911      
0.01

                Formula: count_wind~ gdp + pop      
                top_25 (2000:2019); p.value: 0.01; AR: 1      
                      
                Date: Tue Mar 26 17:01:20 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                     coef   std.error  t-stat   p-value          
                ar1            7.7071e-01  2.3858e-02 32.3037 < 2.2e-16 ***      
                gdp            5.6835e-16  7.6914e-15  0.0739 0.9411311          
                pop            6.0162e-08  2.1343e-08  2.8188 0.0050587 **       
                idAUT          1.0722e+00  2.8869e+00  0.3714 0.7105428          
                idBEL          1.2364e-01  2.8820e+00  0.0429 0.9658012          
                idBRA         -1.1779e+01  4.7071e+00 -2.5023 0.0127330 *        
                idCAN          1.5612e+00  2.8909e+00  0.5401 0.5894555          
                idCHE          3.9846e-01  2.8878e+00  0.1380 0.8903253          
                idCHN         -6.2739e+01  2.8147e+01 -2.2290 0.0263671 *        
                idDEU          1.9540e+01  5.1927e+00  3.7629 0.0001929 ***      
                idDNK          8.5335e+00  4.4709e+00  1.9087 0.0570135 .        
                idESP          7.3944e+00  3.0078e+00  2.4584 0.0143764 *        
                idFIN          2.8589e-02  2.8938e+00  0.0099 0.9921226          
                idFRA          1.1965e+00  3.0194e+00  0.3963 0.6921146          
                idGBR          9.7183e+00  3.1410e+00  3.0940 0.0021123 **       
                idIND         -7.0685e+01  2.6066e+01 -2.7118 0.0069789 **       
                idISR          1.2754e-01  2.8883e+00  0.0442 0.9647988          
                idITA          2.4928e-01  2.9788e+00  0.0837 0.9333493          
                idJPN          9.5991e+00  5.3918e+00  1.7803 0.0757759 .        
                idKOR          6.2113e+00  1.1140e+01  0.5576 0.5774578          
                idNLD          3.9125e+00  2.8923e+00  1.3527 0.1768983          
                idNOR          1.8542e+00  2.8962e+00  0.6402 0.5224112          
                idRUS         -7.8308e+00  3.9081e+00 -2.0037 0.0457694 *        
                idSGP          1.3703e+00  2.8968e+00  0.4730 0.6364486          
                idSWE          6.7002e-01  2.8858e+00  0.2322 0.8165157          
                idTWN          1.2053e+00  2.8736e+00  0.4194 0.6751173          
                idUSA          7.3552e+00  7.2057e+00  1.0208 0.3079822          
                time2001      -1.1392e+00  2.7030e+00 -0.4215 0.6736483          
                time2002      -2.5633e+00  2.6983e+00 -0.9500 0.3426918          
                time2003      -1.5826e+00  2.6989e+00 -0.5864 0.5579423          
                time2004      -2.0819e+00  2.6984e+00 -0.7716 0.4408284          
                time2005      -1.4976e+00  2.7003e+00 -0.5546 0.5794703          
                time2006       2.6281e+00  2.7084e+00  0.9704 0.3324506          
                time2007       2.5719e+00  2.7479e+00  0.9360 0.3498584          
                time2008       6.9617e+00  2.7704e+00  2.5129 0.0123636 *        
                time2009       9.5554e+00  2.7547e+00  3.4688 0.0005793 ***      
                time2010       3.9092e+00  2.8394e+00  1.3768 0.1693427          
                time2011       5.5055e+00  2.8210e+00  1.9516 0.0516761 .        
                time2012      -8.1581e-01  2.8181e+00 -0.2895 0.7723574          
                time2013      -3.1978e+00  2.8032e+00 -1.1407 0.2546558          
                time2014      -3.7902e-01  2.7577e+00 -0.1374 0.8907509          
                time2015      -1.7208e+00  2.7615e+00 -0.6232 0.5335312          
                time2016       1.8096e-01  2.7869e+00  0.0649 0.9482582          
                time2017       1.6915e+00  2.7890e+00  0.6065 0.5445330          
                time2018      -3.9569e+00  2.8039e+00 -1.4112 0.1589531          
                time2019      -6.9125e-01  2.8122e+00 -0.2458 0.8059621          
                iis141         3.2060e+01  1.0460e+01  3.0651 0.0023226 **       
                iis143         5.4908e+01  1.7311e+01  3.1718 0.0016308 **       
                iis146        -5.2133e+01  1.2749e+01 -4.0890 5.231e-05 ***      
                iis149         4.5037e+01  1.0107e+01  4.4561 1.083e-05 ***      
                iis152        -8.5949e+01  1.3077e+01 -6.5727 1.532e-10 ***      
                iis159         4.4457e+01  9.7845e+00  4.5437 7.316e-06 ***      
                iis160         5.5147e+01  9.9881e+00  5.5212 6.042e-08 ***      
                iis162         5.4431e+01  1.0945e+01  4.9731 9.768e-07 ***      
                iis170         6.1503e+01  1.0777e+01  5.7068 2.234e-08 ***      
                iis314         6.4492e+01  9.3099e+00  6.9272 1.706e-11 ***      
                iis463         1.0909e+02  9.5910e+00 11.3743 < 2.2e-16 ***      
                iis464         8.7235e+01  9.7000e+00  8.9933 < 2.2e-16 ***      
                iis465         1.5009e+02  9.8168e+00 15.2890 < 2.2e-16 ***      
                iis466         8.2414e+01  1.0476e+01  7.8668 3.380e-14 ***      
                iis469         9.9705e+01  1.0670e+01  9.3443 < 2.2e-16 ***      
                iis473         7.5997e+01  1.0121e+01  7.5092 3.863e-13 ***      
                fesisDEU.2006  3.3256e+01  6.6732e+00  4.9834 9.292e-07 ***      
                fesisDEU.2010  7.5943e+01  2.2421e+01  3.3871 0.0007759 ***      
                fesisDNK.2012 -9.5861e+01  1.0947e+01 -8.7572 < 2.2e-16 ***      
                fesisUSA.2015  3.8651e+01  1.1432e+01  3.3810 0.0007927 ***      
                tisDEU.2010   -2.8846e+01  6.8166e+00 -4.2316 2.875e-05 ***      
                tisDEU.2014    4.0246e+01  8.8139e+00  4.5663 6.606e-06 ***      
                tisDNK.2005    8.9969e+00  1.5149e+00  5.9389 6.204e-09 ***      
                tisDNK.2013    1.3525e+01  3.2845e+00  4.1177 4.644e-05 ***      
                tisDNK.2017   -4.4696e+01  5.8845e+00 -7.5957 2.159e-13 ***      
                tisUSA.2007   -4.6237e+00  1.2006e+00 -3.8510 0.0001368 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                    Chi-sq df  p-value          
                Ljung-Box AR(1)    0.23754  1    0.626          
                Ljung-Box ARCH(1) 67.55761  1 2.22e-16 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                  
                SE of regression     8.85267      
                R-squared            0.98488      
                Log-lik.(n=475)  -1673.83745      

Log Count Wind

0.001

                Formula: log_count_wind~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.001; AR: 1      
                      
                Date: Tue Mar 26 17:02:57 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                   coef std.error  t-stat   p-value          
                ar1            0.435682  0.040321 10.8053 < 2.2e-16 ***      
                lgdp           0.885256  0.212562  4.1647 3.779e-05 ***      
                lpop          -2.479985  0.787056 -3.1510 0.0017427 **       
                idAUT         -0.902094  0.706254 -1.2773 0.2021971          
                idBEL         -0.542961  0.529900 -1.0246 0.3061132          
                idBRA          4.184654  1.655768  2.5273 0.0118562 *        
                idCAN          1.390875  0.365820  3.8021 0.0001645 ***      
                idCHE         -1.832911  0.764653 -2.3970 0.0169597 *        
                idCHN          8.221432  3.029722  2.7136 0.0069271 **       
                idDEU          4.518813  1.034076  4.3699 1.565e-05 ***      
                idDNK         -2.073805  1.087550 -1.9069 0.0572144 .        
                idESP          3.004352  0.641155  4.6858 3.762e-06 ***      
                idFIN         -2.032334  1.027283 -1.9784 0.0485352 *        
                idFRA          2.984134  0.848487  3.5170 0.0004836 ***      
                idGBR          3.524262  0.845530  4.1681 3.725e-05 ***      
                idIND          6.686304  2.937598  2.2761 0.0233372 *        
                idISR         -2.450677  0.811263 -3.0208 0.0026735 **       
                idITA          2.758630  0.789903  3.4924 0.0005291 ***      
                idJPN          0.547016  1.430902  0.3823 0.7024397          
                idKOR         -3.190380  1.307465 -2.4401 0.0150908 *        
                idNLD          0.588891  0.265346  2.2193 0.0269925 *        
                idNOR         -4.170897  1.244040 -3.3527 0.0008721 ***      
                idRUS          1.088998  1.376518  0.7911 0.4293135          
                idSGP         -3.073605  1.186561 -2.5903 0.0099182 **       
                idSWE         -2.846897  0.768690 -3.7036 0.0002407 ***      
                idTWN          0.762460  0.188805  4.0384 6.389e-05 ***      
                idUSA          6.125570  1.956446  3.1310 0.0018629 **       
                time2001      17.685391 12.145404  1.4561 0.1460944          
                time2002      17.832939 12.150448  1.4677 0.1429332          
                time2003      17.667713 12.155660  1.4535 0.1468370          
                time2004      17.904711 12.160952  1.4723 0.1416786          
                time2005      17.993918 12.167185  1.4789 0.1399125          
                time2006      18.255015 12.173798  1.4995 0.1344795          
                time2007      18.343216 12.177544  1.5063 0.1327310          
                time2008      18.549501 12.185632  1.5222 0.1286935          
                time2009      18.703725 12.192501  1.5340 0.1257668          
                time2010      18.596914 12.198875  1.5245 0.1281349          
                time2011      18.610024 12.203999  1.5249 0.1280266          
                time2012      18.477010 12.207622  1.5136 0.1308816          
                time2013      18.277440 12.212460  1.4966 0.1352356          
                time2014      18.322840 12.217017  1.4998 0.1344156          
                time2015      18.171069 12.222034  1.4867 0.1378250          
                time2016      18.319674 12.226845  1.4983 0.1347953          
                time2017      18.411261 12.231775  1.5052 0.1330174          
                time2018      18.185700 12.236629  1.4862 0.1379776          
                time2019      18.152908 12.240329  1.4830 0.1388064          
                iis21         -1.804391  0.431006 -4.1865 3.447e-05 ***      
                iis44         -1.796635  0.427109 -4.2065 3.167e-05 ***      
                iis116        -1.656501  0.445053 -3.7220 0.0002243 ***      
                fesisSGP.2007  1.424965  0.273931  5.2019 3.077e-07 ***      
                fesisSGP.2012 -1.206606  0.247488 -4.8754 1.538e-06 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                  Chi-sq df p-value      
                Ljung-Box AR(1)   1.9428  1  0.1634      
                Ljung-Box ARCH(1) 2.2089  1  0.1372      
                                                 
                SE of regression    0.40720      
                R-squared           0.92249      
                Log-lik.(n=475)  -221.73621      
0.01

                Formula: log_count_wind~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.01; AR: 1      
                      
                Date: Tue Mar 26 17:02:55 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                   coef std.error  t-stat   p-value          
                ar1            0.407765  0.037984 10.7350 < 2.2e-16 ***      
                lgdp           0.999592  0.196925  5.0760 5.841e-07 ***      
                lpop          -2.809288  0.746776 -3.7619 0.0001930 ***      
                idAUT          0.598378  0.792582  0.7550 0.4506954          
                idBEL          0.050035  0.585415  0.0855 0.9319300          
                idBRA          5.407699  1.663518  3.2508 0.0012453 **       
                idCAN          2.233875  0.534116  4.1824 3.525e-05 ***      
                idCHE         -1.374385  0.769661 -1.7857 0.0748810 .        
                idCHN          9.916709  2.951973  3.3593 0.0008539 ***      
                idDEU          5.666111  1.088389  5.2060 3.049e-07 ***      
                idDNK         -2.297394  1.057920 -2.1716 0.0304533 *        
                idESP          4.022477  0.744624  5.4020 1.115e-07 ***      
                idFIN         -1.658485  0.997790 -1.6622 0.0972399 .        
                idFRA          4.028575  0.926603  4.3477 1.735e-05 ***      
                idGBR          4.597672  0.922138  4.9859 9.096e-07 ***      
                idIND          8.258727  2.867482  2.8801 0.0041820 **       
                idISR         -1.996624  0.806041 -2.4771 0.0136457 *        
                idITA          3.786576  0.875373  4.3257 1.909e-05 ***      
                idJPN          1.221946  1.433688  0.8523 0.3945360          
                idKOR         -2.967957  1.280834 -2.3172 0.0209806 *        
                idNLD          1.314198  0.425633  3.0876 0.0021537 **       
                idNOR         -4.037727  1.188293 -3.3979 0.0007449 ***      
                idRUS          1.893611  1.400816  1.3518 0.1771821          
                idSGP         -2.724529  1.137754 -2.3947 0.0170808 *        
                idSWE         -2.596916  0.773783 -3.3561 0.0008636 ***      
                idTWN          1.535711  0.413911  3.7102 0.0002354 ***      
                idUSA          7.499426  1.940295  3.8651 0.0001289 ***      
                time2001      19.340282 11.511956  1.6800 0.0937102 .        
                time2002      19.472304 11.515388  1.6910 0.0915948 .        
                time2003      19.410896 11.524605  1.6843 0.0928792 .        
                time2004      19.541924 11.526655  1.6954 0.0907593 .        
                time2005      19.729351 11.530487  1.7111 0.0878210 .        
                time2006      19.966091 11.537060  1.7306 0.0842692 .        
                time2007      20.059666 11.540155  1.7382 0.0829122 .        
                time2008      20.277597 11.547258  1.7561 0.0798206 .        
                time2009      20.447193 11.553258  1.7698 0.0774948 .        
                time2010      20.345332 11.558856  1.7602 0.0791224 .        
                time2011      20.358220 11.563663  1.7605 0.0790574 .        
                time2012      20.227738 11.566982  1.7487 0.0810775 .        
                time2013      20.023861 11.571855  1.7304 0.0843070 .        
                time2014      20.061307 11.576625  1.7329 0.0838572 .        
                time2015      19.854520 11.581145  1.7144 0.0872086 .        
                time2016      20.051012 11.586368  1.7306 0.0842756 .        
                time2017      20.123621 11.591057  1.7361 0.0832860 .        
                time2018      19.881245 11.595582  1.7146 0.0871773 .        
                time2019      19.922061 11.599266  1.7175 0.0866324 .        
                iis21         -1.657629  0.389834 -4.2521 2.621e-05 ***      
                iis44         -1.782922  0.386483 -4.6132 5.298e-06 ***      
                iis72          1.327532  0.384942  3.4487 0.0006213 ***      
                iis116        -1.558839  0.402247 -3.8753 0.0001238 ***      
                iis194         1.377774  0.386066  3.5688 0.0004008 ***      
                iis269        -1.222424  0.391349 -3.1236 0.0019123 **       
                iis382         1.086931  0.392489  2.7693 0.0058703 **       
                iis419         1.337165  0.387497  3.4508 0.0006166 ***      
                fesisAUS.2002  1.511781  0.433356  3.4885 0.0005379 ***      
                fesisAUS.2005 -0.937249  0.244506 -3.8332 0.0001462 ***      
                fesisAUT.2002 -1.004839  0.387249 -2.5948 0.0098011 **       
                fesisDNK.2006  0.693179  0.200614  3.4553 0.0006066 ***      
                fesisSGP.2007  1.464452  0.248526  5.8926 7.900e-09 ***      
                fesisSGP.2012 -1.226129  0.224257 -5.4675 7.915e-08 ***      
                tisBEL.2017    0.492547  0.177244  2.7789 0.0057029 **       
                tisBEL.2019   -2.454481  0.633391 -3.8751 0.0001239 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                  Chi-sq df p-value        
                Ljung-Box AR(1)   1.5281  1 0.21639        
                Ljung-Box ARCH(1) 2.7614  1 0.09656 .      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                 
                SE of regression    0.36671      
                R-squared           0.93877      
                Log-lik.(n=475)  -166.48120      

Ihs Count Wind

0.001

                Formula: ihs_count_wind~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.001; AR: 1      
                      
                Date: Tue Mar 26 17:06:22 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                   coef std.error  t-stat   p-value          
                ar1            0.378752  0.040342  9.3886 < 2.2e-16 ***      
                lgdp           1.104107  0.245258  4.5018 8.728e-06 ***      
                lpop          -2.440256  0.924873 -2.6385 0.0086360 **       
                idAUT          0.488840  0.901629  0.5422 0.5879845          
                idBEL          0.780447  0.733164  1.0645 0.2877147          
                idBRA          4.742186  2.065571  2.2958 0.0221755 *        
                idCAN          2.441243  0.671579  3.6351 0.0003122 ***      
                idCHE         -0.617551  0.958573 -0.6442 0.5197702          
                idCHN          8.455450  3.661312  2.3094 0.0214032 *        
                idDEU          5.606163  1.350667  4.1507 4.012e-05 ***      
                idDNK         -0.836785  1.306504 -0.6405 0.5222105          
                idESP          4.216581  0.928617  4.5407 7.325e-06 ***      
                idFIN         -0.635323  1.240252 -0.5123 0.6087416          
                idFRA          3.992792  1.154041  3.4598 0.0005955 ***      
                idGBR          4.633299  1.147404  4.0381 6.402e-05 ***      
                idIND          6.651027  3.558093  1.8693 0.0622780 .        
                idISR         -1.386060  1.005581 -1.3784 0.1688204          
                idITA          3.776845  1.090925  3.4621 0.0005908 ***      
                idJPN          0.426876  1.790828  0.2384 0.8117115          
                idKOR         -3.571146  1.603787 -2.2267 0.0264947 *        
                idNLD          1.892154  0.538553  3.5134 0.0004902 ***      
                idNOR         -3.225820  1.473765 -2.1888 0.0291566 *        
                idRUS          1.122405  1.747086  0.6424 0.5209339          
                idSGP         -1.924472  1.415146 -1.3599 0.1745843          
                idSWE         -1.988779  0.961502 -2.0684 0.0392103 *        
                idTWN          1.894061  0.524522  3.6110 0.0003417 ***      
                idUSA          6.757104  2.406951  2.8073 0.0052270 **       
                time2001      10.238593 14.292254  0.7164 0.4741570          
                time2002      10.357725 14.298320  0.7244 0.4692207          
                time2003      10.143151 14.304082  0.7091 0.4786485          
                time2004      10.450837 14.310294  0.7303 0.4656108          
                time2005      10.605283 14.314515  0.7409 0.4591805          
                time2006      10.898854 14.321865  0.7610 0.4470856          
                time2007      11.001809 14.325721  0.7680 0.4429310          
                time2008      11.232697 14.334505  0.7836 0.4337071          
                time2009      11.423791 14.341822  0.7965 0.4261679          
                time2010      11.309936 14.348783  0.7882 0.4310131          
                time2011      11.325398 14.354768  0.7890 0.4305760          
                time2012      11.189073 14.358876  0.7792 0.4362726          
                time2013      10.949955 14.364969  0.7623 0.4463260          
                time2014      10.984918 14.370949  0.7644 0.4450659          
                time2015      10.787457 14.377042  0.7503 0.4534770          
                time2016      10.962147 14.383098  0.7622 0.4463934          
                time2017      11.049256 14.388804  0.7679 0.4429722          
                time2018      10.804312 14.394253  0.7506 0.4533123          
                time2019      10.743104 14.398971  0.7461 0.4560211          
                iis21         -2.221501  0.494426 -4.4931 9.076e-06 ***      
                iis44         -2.321870  0.489652 -4.7419 2.901e-06 ***      
                iis116        -2.023549  0.510460 -3.9642 8.649e-05 ***      
                fesisAUS.2002  2.040156  0.550887  3.7034 0.0002410 ***      
                fesisAUS.2005 -1.184617  0.310368 -3.8168 0.0001554 ***      
                fesisSGP.2007  1.768557  0.316260  5.5921 4.037e-08 ***      
                fesisSGP.2012 -1.494800  0.284137 -5.2608 2.286e-07 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                  Chi-sq df p-value        
                Ljung-Box AR(1)   1.1940  1 0.27452        
                Ljung-Box ARCH(1) 3.0026  1 0.08313 .      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                 
                SE of regression    0.46681      
                R-squared           0.91624      
                Log-lik.(n=475)  -285.62293      
0.01

                Formula: ihs_count_wind~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.01; AR: 1      
                      
                Date: Tue Mar 26 17:06:23 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                   coef std.error  t-stat   p-value          
                ar1            0.354757  0.037810  9.3826 < 2.2e-16 ***      
                lgdp           0.857576  0.232904  3.6821 0.0002620 ***      
                lpop          -2.639937  1.009072 -2.6162 0.0092173 **       
                idAUT          1.013752  1.050052  0.9654 0.3348941          
                idBEL          0.270884  0.771179  0.3513 0.7255730          
                idBRA          5.184125  2.281692  2.2721 0.0235968 *        
                idCAN          2.497261  0.677813  3.6843 0.0002599 ***      
                idCHE         -1.150816  1.031705 -1.1155 0.2653060          
                idCHN         10.044814  4.136626  2.4283 0.0155975 *        
                idDEU          6.006047  1.466765  4.0948 5.086e-05 ***      
                idDNK         -1.080393  1.383254 -0.7811 0.4352197          
                idESP          4.212630  0.950720  4.4310 1.203e-05 ***      
                idFIN         -1.606332  1.385746 -1.1592 0.2470516          
                idFRA          4.218175  1.240008  3.4017 0.0007349 ***      
                idGBR          4.830830  1.222543  3.9515 9.135e-05 ***      
                idIND          7.740300  4.000440  1.9349 0.0536897 .        
                idISR         -1.171460  1.169658 -1.0015 0.3171523          
                idITA          3.922802  1.160617  3.3799 0.0007940 ***      
                idJPN          2.178491  2.059380  1.0578 0.2907476          
                idKOR         -1.792599  1.674946 -1.0702 0.2851353          
                idNLD          1.558219  0.505670  3.0815 0.0021976 **       
                idNOR         -3.458789  1.543666 -2.2406 0.0255808 *        
                idRUS          2.289543  2.013224  1.1373 0.2560923          
                idSGP         -2.806311  1.578588 -1.7777 0.0761831 .        
                idSWE         -2.104926  0.959876 -2.1929 0.0288705 *        
                idTWN          1.695642  0.478633  3.5427 0.0004413 ***      
                idUSA          7.850272  2.711834  2.8948 0.0039950 **       
                time2001      20.476901 16.611983  1.2327 0.2184044          
                time2002      20.675589 16.617927  1.2442 0.2141413          
                time2003      20.606438 16.625369  1.2395 0.2158800          
                time2004      20.779474 16.632352  1.2493 0.2122481          
                time2005      21.022367 16.637215  1.2636 0.2070954          
                time2006      21.340165 16.645832  1.2820 0.2005574          
                time2007      21.457806 16.649800  1.2888 0.1981986          
                time2008      21.668905 16.655752  1.3010 0.1939885          
                time2009      21.867783 16.662786  1.3124 0.1901233          
                time2010      21.775546 16.670788  1.3062 0.1922082          
                time2011      21.802650 16.677557  1.3073 0.1918365          
                time2012      21.674157 16.681583  1.2993 0.1945704          
                time2013      21.438957 16.688361  1.2847 0.1996294          
                time2014      21.476305 16.695198  1.2864 0.1990324          
                time2015      21.222185 16.701230  1.2707 0.2045522          
                time2016      21.464750 16.708804  1.2846 0.1996392          
                time2017      21.565167 16.715222  1.2902 0.1977200          
                time2018      21.333380 16.721236  1.2758 0.2027343          
                time2019      21.323523 16.726543  1.2748 0.2030856          
                iis21         -2.047044  0.447271 -4.5767 6.257e-06 ***      
                iis44         -2.412648  0.441900 -5.4597 8.247e-08 ***      
                iis72          1.593687  0.441732  3.6078 0.0003466 ***      
                iis116        -2.153493  0.464443 -4.6367 4.756e-06 ***      
                iis194         1.681321  0.443201  3.7936 0.0001707 ***      
                iis269        -2.046226  0.464756 -4.4028 1.363e-05 ***      
                iis382         1.235004  0.450296  2.7426 0.0063598 **       
                iis419         1.619475  0.444592  3.6426 0.0003042 ***      
                fesisAUS.2002  1.951664  0.497122  3.9259 0.0001012 ***      
                fesisAUS.2005 -1.183959  0.285916 -4.1409 4.196e-05 ***      
                fesisAUT.2002 -1.269042  0.444082 -2.8577 0.0044834 **       
                fesisIND.2008  0.953055  0.234807  4.0589 5.899e-05 ***      
                fesisSGP.2007  1.880340  0.298250  6.3046 7.431e-10 ***      
                fesisSGP.2012 -1.471674  0.261922 -5.6187 3.542e-08 ***      
                tisBEL.2019   -1.177493  0.444492 -2.6491 0.0083808 **       
                tisISR.2003   -0.066260  0.023226 -2.8529 0.0045506 **       
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                   Chi-sq df p-value        
                Ljung-Box AR(1)   2.77400  1 0.09581 .      
                Ljung-Box ARCH(1) 0.97726  1 0.32287        
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                 
                SE of regression    0.42057      
                R-squared           0.93347      
                Log-lik.(n=475)  -231.57435      

Max Count Wind

0.001

                Formula: max_count_wind~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.001; AR: 1      
                      
                Date: Tue Mar 26 17:08:08 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                    coef  std.error   t-stat   p-value          
                ar1            0.7103671  0.0207670  34.2065 < 2.2e-16 ***      
                lgdp           0.0447008  0.0126330   3.5384 0.0004483 ***      
                lpop          -0.1106073  0.0477630  -2.3158 0.0210609 *        
                idAUT         -0.0345802  0.0426170  -0.8114 0.4175933          
                idBEL         -0.0158978  0.0320276  -0.4964 0.6198922          
                idBRA          0.2011919  0.1008694   1.9946 0.0467457 *        
                idCAN          0.0500077  0.0221440   2.2583 0.0244484 *        
                idCHE         -0.0720781  0.0463547  -1.5549 0.1207298          
                idCHN          0.3561705  0.1834148   1.9419 0.0528306 .        
                idDEU          0.2487981  0.0644688   3.8592 0.0001320 ***      
                idDNK         -0.1244848  0.0672751  -1.8504 0.0649723 .        
                idESP          0.1263114  0.0383314   3.2952 0.0010682 **       
                idFIN         -0.0680142  0.0619642  -1.0976 0.2730023          
                idFRA          0.1194425  0.0511771   2.3339 0.0200795 *        
                idGBR          0.1494699  0.0507815   2.9434 0.0034295 **       
                idIND          0.2772477  0.1777208   1.5600 0.1195214          
                idISR         -0.0974191  0.0491617  -1.9816 0.0481860 *        
                idITA          0.1143711  0.0477932   2.3930 0.0171552 *        
                idJPN         -0.0010228  0.0860573  -0.0119 0.9905229          
                idKOR         -0.1851076  0.0781127  -2.3698 0.0182588 *        
                idNLD          0.0198329  0.0159772   1.2413 0.2151912          
                idNOR         -0.1903497  0.0756794  -2.5152 0.0122747 *        
                idRUS          0.0340648  0.0827091   0.4119 0.6806534          
                idSGP         -0.0925099  0.0662192  -1.3970 0.1631565          
                idSWE         -0.1325076  0.0469471  -2.8225 0.0049955 **       
                idTWN          0.0327422  0.0118843   2.7551 0.0061272 **       
                idUSA          0.2469020  0.1187198   2.0797 0.0381690 *        
                time2001       0.6112484  0.7306784   0.8365 0.4033298          
                time2002       0.6080008  0.7310062   0.8317 0.4060412          
                time2003       0.6104813  0.7312724   0.8348 0.4043013          
                time2004       0.6085996  0.7315922   0.8319 0.4059553          
                time2005       0.6105790  0.7319212   0.8342 0.4046426          
                time2006       0.6250797  0.7322785   0.8536 0.3938163          
                time2007       0.6229350  0.7327292   0.8502 0.3957302          
                time2008       0.6416174  0.7332113   0.8751 0.3820398          
                time2009       0.6440380  0.7336673   0.8778 0.3805443          
                time2010       0.6379506  0.7341176   0.8690 0.3853500          
                time2011       0.6333475  0.7345897   0.8622 0.3890896          
                time2012       0.6195472  0.7349293   0.8430 0.3997150          
                time2013       0.6104662  0.7351624   0.8304 0.4068022          
                time2014       0.6173707  0.7354519   0.8394 0.4017058          
                time2015       0.6145923  0.7357432   0.8353 0.4040120          
                time2016       0.6211871  0.7360627   0.8439 0.3991958          
                time2017       0.6204695  0.7363438   0.8426 0.3999200          
                time2018       0.6128303  0.7366260   0.8319 0.4059223          
                time2019       0.6122067  0.7368393   0.8309 0.4065356          
                iis152        -0.1679100  0.0497040  -3.3782 0.0007989 ***      
                iis162         0.1079950  0.0312750   3.4531 0.0006115 ***      
                iis463         0.2870424  0.0289950   9.8997 < 2.2e-16 ***      
                iis464         0.2298752  0.0290621   7.9098 2.384e-14 ***      
                iis465         0.3967552  0.0294694  13.4633 < 2.2e-16 ***      
                iis466         0.2188155  0.0311587   7.0226 9.014e-12 ***      
                iis469         0.2167505  0.0292206   7.4177 6.833e-13 ***      
                iis473         0.1981350  0.0289058   6.8545 2.616e-11 ***      
                fesisDEU.2010  0.4388627  0.0350399  12.5246 < 2.2e-16 ***      
                fesisDNK.2007  0.1802568  0.0192845   9.3472 < 2.2e-16 ***      
                fesisDNK.2012 -0.2226963  0.0258258  -8.6230 < 2.2e-16 ***      
                tisDEU.2010   -0.1457109  0.0115010 -12.6694 < 2.2e-16 ***      
                tisDEU.2014    0.2282843  0.0202406  11.2785 < 2.2e-16 ***      
                tisDEU.2017   -0.0912447  0.0263335  -3.4650 0.0005858 ***      
                tisDNK.2013    0.0569890  0.0082993   6.8667 2.422e-11 ***      
                tisDNK.2017   -0.0899778  0.0175331  -5.1319 4.424e-07 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                   Chi-sq df   p-value          
                Ljung-Box AR(1)    2.3678  1    0.1239          
                Ljung-Box ARCH(1) 21.8097  1 3.011e-06 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                 
                SE of regression    0.02727      
                R-squared           0.97792      
                Log-lik.(n=475)  1067.85788      
0.01

                Formula: max_count_wind~ lgdp + lpop      
                top_25 (2000:2019); p.value: 0.01; AR: 1      
                      
                Date: Tue Mar 26 17:08:08 2024       
                Dependent var.: y       
                Method: Ordinary Least Squares (OLS)      
                Variance-Covariance: Ordinary       
                No. of observations (mean eq.): 475       
                Sample: 1 to 475       
                      
                SPECIFIC mean equation:      
                      
                                    coef  std.error  t-stat   p-value          
                ar1            0.7186416  0.0178295 40.3063 < 2.2e-16 ***      
                lgdp           0.0449869  0.0102886  4.3725 1.567e-05 ***      
                lpop          -0.1141488  0.0395708 -2.8847 0.0041296 **       
                idAUT         -0.0375287  0.0355144 -1.0567 0.2912760          
                idBEL         -0.0179769  0.0266739 -0.6740 0.5007289          
                idBRA          0.2088119  0.0837245  2.4940 0.0130318 *        
                idCAN          0.0512947  0.0183039  2.8024 0.0053186 **       
                idCHE         -0.0754162  0.0385515 -1.9562 0.0511302 .        
                idCHN          0.3688602  0.1525660  2.4177 0.0160636 *        
                idDEU          0.2017738  0.0542842  3.7170 0.0002303 ***      
                idDNK         -0.1489924  0.0556366 -2.6780 0.0077118 **       
                idESP          0.1282504  0.0316298  4.0547 6.031e-05 ***      
                idFIN         -0.0723622  0.0516442 -1.4012 0.1619375          
                idFRA          0.1228665  0.0424240  2.8962 0.0039845 **       
                idGBR          0.1522029  0.0420595  3.6188 0.0003339 ***      
                idIND          0.2902466  0.1479584  1.9617 0.0504916 .        
                idISR         -0.1009863  0.0407994 -2.4752 0.0137289 *        
                idITA          0.1176517  0.0395775  2.9727 0.0031300 **       
                idJPN          0.0043435  0.0722479  0.0601 0.9520900          
                idKOR         -0.1848206  0.0640839 -2.8840 0.0041377 **       
                idNLD          0.0188258  0.0132130  1.4248 0.1549964          
                idNOR         -0.1958655  0.0625470 -3.1315 0.0018667 **       
                idRUS          0.0396622  0.0690167  0.5747 0.5658332          
                idSGP         -0.0973995  0.0551316 -1.7667 0.0780438 .        
                idSWE         -0.1357928  0.0386644 -3.5121 0.0004952 ***      
                idTWN          0.0329867  0.0096532  3.4172 0.0006974 ***      
                idUSA          0.2594629  0.0985490  2.6328 0.0087949 **       
                time2001       0.6655855  0.6096142  1.0918 0.2755703          
                time2002       0.6622917  0.6098859  1.0859 0.2781636          
                time2003       0.6647653  0.6101081  1.0896 0.2765499          
                time2004       0.6628572  0.6103754  1.0860 0.2781390          
                time2005       0.6636267  0.6106523  1.0868 0.2778000          
                time2006       0.6732972  0.6110016  1.1020 0.2711415          
                time2007       0.6729966  0.6113852  1.1008 0.2716556          
                time2008       0.6855495  0.6117811  1.1206 0.2631375          
                time2009       0.6955915  0.6121344  1.1363 0.2564938          
                time2010       0.6815558  0.6125124  1.1127 0.2664946          
                time2011       0.6847222  0.6128673  1.1172 0.2645590          
                time2012       0.6677150  0.6131703  1.0890 0.2768276          
                time2013       0.6628347  0.6133536  1.0807 0.2804921          
                time2014       0.6709478  0.6135812  1.0935 0.2748331          
                time2015       0.6674592  0.6138381  1.0874 0.2775336          
                time2016       0.6709492  0.6142298  1.0923 0.2753385          
                time2017       0.6784817  0.6144691  1.1042 0.2701792          
                time2018       0.6633443  0.6147176  1.0791 0.2811900          
                time2019       0.6696801  0.6148995  1.0891 0.2767688          
                iis141         0.0840744  0.0260990  3.2214 0.0013799 **       
                iis143         0.1152750  0.0424400  2.7162 0.0068896 **       
                iis146        -0.1222801  0.0316563 -3.8627 0.0001307 ***      
                iis149         0.1137417  0.0252007  4.5134 8.395e-06 ***      
                iis152        -0.2144111  0.0325933 -6.5784 1.488e-10 ***      
                iis159         0.1049426  0.0242702  4.3239 1.936e-05 ***      
                iis160         0.1345584  0.0247783  5.4305 9.760e-08 ***      
                iis162         0.1305968  0.0269355  4.8485 1.782e-06 ***      
                iis168         0.0971349  0.0262703  3.6975 0.0002480 ***      
                iis170         0.1680209  0.0268801  6.2508 1.046e-09 ***      
                iis314         0.1563226  0.0234231  6.6739 8.309e-11 ***      
                iis463         0.2827367  0.0239648 11.7980 < 2.2e-16 ***      
                iis464         0.2293884  0.0243087  9.4365 < 2.2e-16 ***      
                iis465         0.3873473  0.0247763 15.6338 < 2.2e-16 ***      
                iis466         0.2150438  0.0265062  8.1130 6.097e-15 ***      
                iis469         0.2829848  0.0319796  8.8489 < 2.2e-16 ***      
                iis473         0.2233887  0.0276554  8.0776 7.828e-15 ***      
                fesisDEU.2006  0.0900880  0.0166173  5.4213 1.024e-07 ***      
                fesisDEU.2010  0.2402707  0.0542484  4.4291 1.222e-05 ***      
                fesisDNK.2012 -0.2321052  0.0271454 -8.5505 2.612e-16 ***      
                fesisJPN.2016 -0.0508338  0.0131948 -3.8526 0.0001360 ***      
                fesisUSA.2013 -0.0758362  0.0249471 -3.0399 0.0025219 **       
                fesisUSA.2015  0.1016319  0.0279558  3.6354 0.0003136 ***      
                fesisUSA.2017 -0.0644831  0.0225873 -2.8548 0.0045294 **       
                tisDEU.2010   -0.0850507  0.0168048 -5.0611 6.363e-07 ***      
                tisDEU.2014    0.1141020  0.0218286  5.2272 2.775e-07 ***      
                tisDNK.2005    0.0301017  0.0031961  9.4184 < 2.2e-16 ***      
                tisDNK.2017   -0.0580817  0.0101850 -5.7027 2.292e-08 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                      
                Diagnostics and fit:      
                      
                                   Chi-sq df   p-value          
                Ljung-Box AR(1)    1.6773  1    0.1953          
                Ljung-Box ARCH(1) 65.5792  1 5.551e-16 ***      
                ---      
                Signif. codes:  0 '***' 0.001 '**' 0.01 '*' 0.05 '.' 0.1 ' ' 1      
                                                 
                SE of regression    0.02210      
                R-squared           0.98593      
                Log-lik.(n=475)  1173.83619